Get Premium Data for Cyber Monday: Up to 55% Off InvestingProCLAIM SALE

Ibex Ltd director Khaishgi sells shares worth over $67k

Published 2024-09-27, 09:28 p/m
IBEX
-

In a recent transaction, Mohammedulla Khaishgi, a director of IBEX Ltd (NASDAQ:IBEX), sold shares of the company, generating over $67,000 in proceeds. The sales occurred on September 27, 2024, and involved a total of 3,389 common shares of IBEX Ltd.

The shares were sold at prices ranging from $20.00 to $20.02, with the reported price reflecting the weighted average sales price. Specifically, Khaishgi sold 1,506 shares at an average price of $20.0013 and 1,883 shares at an average price of $20.0042, as part of the transactions.

Following the sales, Khaishgi's direct holdings in the company decreased to 266,973 shares. Additionally, as trustee of the Allibhoy Khaishgi Family Foundation, Khaishgi's indirect holdings after the sale amounted to 99,636 shares.

The transactions were executed in multiple trades, and Khaishgi has agreed to provide full information regarding the number of shares sold at each separate price upon request to the issuer, any security holder of the issuer, or the staff of the U.S. Securities and Exchange Commission.

Investors monitoring insider activity may consider these transactions as they assess their positions in IBEX Ltd. The sales have been publicly disclosed as per regulatory requirements.

In other recent news, IBEX Ltd. has reported a transformative year with a record increase in earnings per share (EPS) to $2.10 and a rise in free cash flow to $27 million. Despite a slight annual revenue decrease to $509 million, the company's fourth-quarter revenue indicated a year-over-year increase, suggesting a return to growth. Looking ahead, IBEX anticipates revenue between $510 million and $525 million and adjusted EBITDA of $67 million to $69 million for fiscal year 2025.

Financial services firms Baird and RBC (TSX:RY) Capital Markets have both adjusted their price targets for IBEX, reflecting their confidence in the company's potential. Baird increased its price target for IBEX shares from $20.00 to $23.00, maintaining an Outperform rating. The firm's outlook is based on the company's financial projections and the potential for artificial intelligence to drive margin expansion.

RBC Capital Markets, on the other hand, raised its price target for IBEX from $18 to $20, maintaining a Sector Perform rating. The adjustment followed IBEX's recent announcement of a return to revenue growth, marking a 1% year-over-year increase in the last quarter. The revised stock price target reflects RBC's confidence in IBEX's strategic direction, which includes a focus on more profitable service areas and the implementation of advanced technologies.

These recent developments underscore the positive trajectory of IBEX's financial performance and highlight the company's strategic initiatives for future growth.

InvestingPro Insights

To provide additional context to the recent insider sale by IBEX Ltd director Mohammedulla Khaishgi, let's examine some key financial metrics and insights from InvestingPro.

IBEX Ltd currently boasts a market capitalization of $334.55 million, with a price-to-earnings (P/E) ratio of 10.43. This relatively low P/E ratio suggests that the company may be undervalued compared to its earnings potential. In fact, one of the InvestingPro Tips highlights that IBEX is trading at a low earnings multiple, which could be attractive to value investors.

The company's financial health appears robust, with InvestingPro data showing that IBEX's cash flows can sufficiently cover interest payments, and its liquid assets exceed short-term obligations. This financial stability is particularly noteworthy given the recent insider sale, as it indicates that the company's fundamentals remain strong despite the director's decision to sell shares.

Interestingly, IBEX has demonstrated strong market performance recently. InvestingPro Tips reveal that the company has shown strong returns over the last month and three months, with price total returns of 13.93% and 21.82% respectively. This positive momentum might suggest that the insider sale was more about personal portfolio management than a reflection of the company's prospects.

For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for IBEX Ltd, providing a deeper understanding of the company's financial position and market performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.