Resource Group International Ltd, a significant shareholder of IBEX Ltd (NASDAQ:IBEX), recently sold a portion of its holdings in the company. According to a recent filing, the firm disposed of 2,355 shares over three consecutive days, from November 6 to November 8, 2024. The transactions were executed at prices ranging from $20.00 to $20.0015 per share, amounting to a total sale value of approximately $47,103.
Following these transactions, Resource Group International continues to hold a substantial stake in IBEX Ltd, with 5,348,432 shares remaining. The sales were part of a broader strategy, as indicated in the filing, and were conducted under the direction of Mohammed Khaishgi, CEO of The Resource Group International Limited.
In other recent news, IBEX Ltd. has secured new credit agreements totaling $75 million with HSBC Bank USA and HSBC Bank Middle East Limited. The funds will primarily be used to repay the company's previous $80 million credit facility, with the remaining funds allocated for working capital and general corporate purposes. Financial services firms Baird and RBC Capital Markets have expressed confidence in the company's strategic direction. Baird has maintained an Outperform rating on IBEX shares, raising its price target to $23.00, while RBC Capital Markets increased its price target from $18 to $20, maintaining a Sector Perform rating.
In the latest earnings report, IBEX Ltd. reported a record increase in earnings per share (EPS) to $2.10 and a rise in free cash flow to $27 million. Although annual revenue decreased slightly to $509 million, Q4 revenue showed a year-over-year increase. For fiscal year 2025, the company anticipates revenue between $510 million and $525 million and adjusted EBITDA of $67 million to $69 million.
In addition to these financial developments, IBEX has entered a strategic partnership with AI automation solutions firm Parloa. The collaboration aims to enhance customer experience through the integration of Parloa's AI into ibex's Wave iX solutions suite. This partnership is expected to enable more personalized and efficient customer interactions.
InvestingPro Insights
While Resource Group International Ltd has reduced its stake in IBEX Ltd, the company's financial metrics and market performance suggest a compelling investment case. According to InvestingPro data, IBEX's stock has shown strong momentum, with a 24.13% price return over the last three months and an impressive 37.39% return over the past six months. This recent performance aligns with the company's solid fundamentals.
IBEX is currently trading at an attractive valuation, with a P/E ratio of 10.27, which is considered low relative to its near-term earnings growth potential. This is further supported by an InvestingPro Tip indicating that IBEX is trading at a low earnings multiple. The company's PEG ratio of 0.95 for the last twelve months as of Q1 2025 suggests that the stock may be undervalued relative to its growth prospects.
Despite the recent share sale by Resource Group International, IBEX's management has been actively supporting the stock. An InvestingPro Tip reveals that management has been aggressively buying back shares, which often signals confidence in the company's future and can potentially boost shareholder value.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for IBEX, providing a deeper understanding of the company's financial health and market position. These insights can be particularly valuable in light of the recent insider selling activity.
Resource Group International Ltd, a significant shareholder of IBEX Ltd (NASDAQ:IBEX), recently sold a portion of its holdings in the company. According to a recent filing, the firm disposed of 2,355 shares over three consecutive days, from November 6 to November 8, 2024. The transactions were executed at prices ranging from $20.00 to $20.0015 per share, amounting to a total sale value of approximately $47,103.
Following these transactions, Resource Group International continues to hold a substantial stake in IBEX Ltd, with 5,348,432 shares remaining. The sales were part of a broader strategy, as indicated in the filing, and were conducted under the direction of Mohammed Khaishgi, CEO of The Resource Group International Limited.
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