Gerard J. Kleisterlee, a director at IBEX Ltd (NASDAQ:IBEX), recently sold 5,000 shares of the company, according to a recent SEC filing. The shares were sold at a price of $20.55 each, amounting to a total transaction value of $102,750. Following this sale, Kleisterlee retains ownership of 18,237 shares in the company. This transaction provides a glimpse into the insider activities at IBEX Ltd, a company that operates in the computer processing and data preparation services sector.
In other recent news, IBEX Limited has made significant strides in its financial performance and corporate governance. The company recently repurchased about 20% of its diluted shares from The Resource Group International, Limited (TRGI), a move that alters IBEX's ownership structure and ends its status as a "controlled company" under Nasdaq rules. This change in board structure, now featuring a majority of independent directors, aligns with Nasdaq's corporate governance standards.
Moreover, IBEX reported a robust start to fiscal year 2025, with a record Q1 revenue of $129.7 million, marking a 4.1% increase from the previous year. The company's adjusted EBITDA also rose to $15.6 million, and adjusted EPS increased by 30% to $0.52.
Further, IBEX has raised its full-year revenue guidance to between $515 million and $525 million, with adjusted EBITDA expected to reach $67 million to $69 million. The company has also expanded its higher-margin offshore and nearshore services, now comprising 76% of total revenue, and launched three new client relationships. Despite a slight decline in net cash from operating activities and an increase in Days Sales Outstanding, these recent developments indicate a positive outlook for the company.
InvestingPro Insights
While Gerard J. Kleisterlee's recent sale of IBEX Ltd (NASDAQ:IBEX) shares might raise questions, it's important to consider the broader financial picture of the company. According to InvestingPro data, IBEX has a market capitalization of $348.71 million and a P/E ratio of 10.68, suggesting the stock may be reasonably valued compared to its earnings.
InvestingPro Tips reveal that management has been aggressively buying back shares, indicating confidence in the company's future prospects. This share repurchase activity, combined with the company's high shareholder yield, could potentially offset concerns about insider selling.
IBEX's financial health appears robust, with InvestingPro data showing a gross profit of $155.5 million and an EBITDA of $62.01 million for the last twelve months. The company's operating income margin stands at 8.41%, demonstrating its ability to generate profits from its operations.
It's worth noting that IBEX has shown strong recent performance, with a 21.21% price total return over the past three months and a 31.57% return over the last six months. These figures align with the InvestingPro Tip highlighting the company's strong returns over recent periods.
For investors seeking more comprehensive insights, InvestingPro offers 11 additional tips for IBEX, providing a deeper understanding of the company's financial position and market performance.
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