WASHINGTON—Khaishgi Mohammedulla, a director at IBEX Ltd (NASDAQ:IBEX), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Mohammedulla sold a total of 1,414 common shares on January 21, 2025. The sale comes as IBEX trades near its 52-week high of $22.52, having delivered an impressive 35% return over the past six months. According to InvestingPro analysis, the company maintains a strong financial health score and trades at an attractive P/E ratio of 11.2. The transactions were executed at prices ranging from $22.50 to $22.5001 per share, amounting to a total sale value of $31,815.
Following these transactions, Mohammedulla holds 96,712 shares indirectly as the trustee of the Allibhoy Khaishgi Family Foundation, and 221,744 shares directly. The sales were part of a pre-arranged trading plan.
In other recent news, IBEX Ltd has made significant strides in its operations. The company recently completed a $70 million share repurchase from The Resource Group International Limited (TRGI), effectively altering its ownership structure and ending its status as a "controlled company" under Nasdaq rules. The repurchase involved 3,562,341 of its common shares, with payment structured through a combination of cash and a convertible promissory note.
This development coincided with IBEX Ltd's strong start to the fiscal year 2025. The company reported a record Q1 revenue of $129.7 million, a 4.1% increase from the previous year. Adjustments to EBITDA and EPS also saw increases, leading the company to raise its full-year revenue guidance to between $515 million and $525 million.
In addition to these financial developments, IBEX Ltd also made changes to its board. The board now consists of a majority of independent directors, following a shareholder vote that set the maximum number of directors at eight. Shareholders also approved the appointment of Deloitte & Touche LLP as the company's auditor for the upcoming fiscal year.
As a result of these recent developments, IBEX Ltd now operates with a robust financial health score, indicating strong liquidity and efficient operations. This score, combined with the company's strategic moves, suggests a proactive approach to delivering value to shareholders.
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