Ebix Inc (NASDAQ:EBIX) Major Shareholder Fondation Rennes Sells 52,855 Shares

Ebix Inc (NASDAQ:EBIX) major shareholder Fondation Rennes sold 52,855 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $38.04, for a total value of $2,010,604.20. Following the transaction, the insider now owns 3,163,126 shares in the company, valued at approximately $120,325,313.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Fondation Rennes also recently made the following trade(s):

  • On Monday, August 19th, Fondation Rennes sold 22,145 shares of Ebix stock. The stock was sold at an average price of $30.20, for a total value of $668,779.00.
  • On Thursday, August 15th, Fondation Rennes sold 65,000 shares of Ebix stock. The stock was sold at an average price of $34.41, for a total value of $2,236,650.00.

Shares of NASDAQ EBIX traded up $0.08 during mid-day trading on Thursday, reaching $35.90. The company had a trading volume of 4,750 shares, compared to its average volume of 367,117. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.36 and a current ratio of 1.36. Ebix Inc has a one year low of $33.87 and a one year high of $81.50. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 9.57 and a beta of 1.47. The business’s 50-day simple moving average is $43.45 and its 200 day simple moving average is $49.47.

Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.06). Ebix had a return on equity of 22.55% and a net margin of 16.72%. The company had revenue of $144.28 million during the quarter, compared to the consensus estimate of $150.41 million. During the same quarter in the previous year, the business posted $0.92 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ebix Inc will post 4.41 EPS for the current year.

Several research analysts have weighed in on the company. BMO Capital Markets lowered their price objective on Ebix from $52.00 to $50.00 and set a “market perform” rating on the stock in a research report on Friday, August 9th. BidaskClub cut Ebix from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 17th. Maxim Group restated a “buy” rating on shares of Ebix in a research report on Thursday, May 9th. Finally, TheStreet cut Ebix from a “c+” rating to a “f” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $36.30.

Several hedge funds and other institutional investors have recently modified their holdings of EBIX. FMR LLC boosted its stake in Ebix by 1.9% in the first quarter. FMR LLC now owns 3,892,452 shares of the technology company’s stock valued at $192,171,000 after buying an additional 72,066 shares in the last quarter. BlackRock Inc. boosted its stake in Ebix by 2.8% in the second quarter. BlackRock Inc. now owns 3,412,071 shares of the technology company’s stock valued at $171,355,000 after buying an additional 92,808 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ebix by 0.5% in the second quarter. Vanguard Group Inc. now owns 2,344,451 shares of the technology company’s stock valued at $117,738,000 after buying an additional 10,942 shares in the last quarter. Villere ST Denis J & Co. LLC boosted its stake in Ebix by 6.1% in the second quarter. Villere ST Denis J & Co. LLC now owns 1,264,457 shares of the technology company’s stock valued at $63,501,000 after buying an additional 72,628 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Ebix by 20.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 723,593 shares of the technology company’s stock valued at $30,798,000 after buying an additional 121,500 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Ebix Company Profile

Ebix, Inc provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of finance, travel, life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.

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Insider Buying and Selling by Quarter for Ebix (NASDAQ:EBIX)

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