Keen Shuja, a director at IBEX Ltd (NASDAQ:IBEX), recently executed two significant stock sales, as detailed in a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro data, IBEX currently trades at an attractive P/E ratio of 10.3 and maintains a "GREAT" financial health score, suggesting strong fundamental performance despite the insider sales. On December 13, Shuja sold 4,139 shares at an average price of $20.0293 per share, and on December 16, he sold an additional 8,045 shares at an average price of $20.083 per share. The total value of these transactions amounts to $244,469. Following these sales, Shuja holds 58,926 shares of IBEX Ltd through his ownership in Adia Global LLC. Notably, InvestingPro analysis indicates the stock is currently undervalued, with analyst targets ranging from $21 to $26. Get deeper insights into insider trading patterns and 10+ additional ProTips with an InvestingPro subscription.
In other recent news, IBEX Ltd has seen significant developments in its operations. The company reported a record Q1 revenue of $129.7 million, marking a 4.1% increase from the previous year. Adjusted EBITDA rose to $15.6 million, and adjusted EPS grew by 30% to $0.52. As a result of this strong performance, 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.
In addition to its financial performance, IBEX has also made key decisions at its annual general meeting, including setting the board of directors' size, electing directors, and appointing the company's auditor for the upcoming fiscal year. The company also repurchased approximately 20% of its diluted shares from The Resource Group International, Limited, altering its ownership structure and ending its status as a "controlled company" under Nasdaq rules.
Further, IBEX has 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, the company remains positive about its future prospects. These recent developments highlight IBEX's ongoing commitment to growth and shareholder value.
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