In a recent series of transactions, major stakeholders of IBEX Ltd (NASDAQ:IBEX) have sold a significant portion of their holdings. PineBridge GEM II G.P., L.P., and PineBridge Global Emerging Markets Partners II, L.P., along with key individuals John Leone, Kevin Clowe, and Pierre Mellinger, collectively sold shares totaling approximately $3.05 million. The sales occurred over three consecutive days, with share prices ranging from $20.1966 to $20.7519. According to InvestingPro data, IBEX trades at an attractive P/E ratio of 10.3 and shows strong financial health metrics. Despite the insider selling, management has been actively buying back shares.
The transactions involved the sale of 25,878 shares on December 2 at an average price of $20.7519, 41,742 shares on December 3 at an average price of $20.3078, and 82,572 shares on December 4 at an average price of $20.1966. Following these transactions, the group now holds 1,421,547 shares of IBEX Ltd.
These sales were part of a joint filing by the involved parties, who collectively hold more than ten percent of the company's shares. The transactions were executed through multiple sales at various prices within the stated ranges.
In other recent news, IBEX Limited has made significant strides in its financial performance and corporate structure. The company recently repurchased around 20% of its diluted shares, a transaction that involved 3,562,341 common shares, totaling $70 million. This move has led to a shift in IBEX's ownership structure, reducing The Resource Group International's stake and ending IBEX's status as a "controlled company" under Nasdaq rules.
These developments are part of IBEX's broader capital management strategy, which has seen over $27 million in share repurchases since the previous year. Additionally, IBEX has reported a strong start to fiscal year 2025, with record Q1 revenue of $129.7 million, a 4.1% increase from the previous year. The company's adjusted EBITDA rose to $15.6 million, and adjusted EPS increased by 30% to $0.52.
Furthermore, 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 also expanded its higher-margin offshore and nearshore services, which now make up 76% of total revenue. Despite some challenges, such as a slight decline in net cash from operating activities, IBEX maintains a positive outlook on its growth prospects.
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