Ebix Target of Unusually Large Options Trading (EBIX)
Ebix Inc (NASDAQ:EBIX) saw some unusual options trading activity on Wednesday. Investors bought 2,683 put options on the stock. This represents an increase of approximately 1,136% compared to the typical volume of 217 put options.
Several analysts have recently commented on EBIX shares. Maxim Group set a $108.00 target price on shares of Ebix and gave the company a “buy” rating in a report on Friday, August 3rd. BidaskClub downgraded shares of Ebix from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ebix has an average rating of “Buy” and a consensus target price of $100.00.
NASDAQ EBIX opened at $78.15 on Thursday. Ebix has a 52-week low of $56.40 and a 52-week high of $89.10. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market cap of $2.51 billion, a P/E ratio of 23.78 and a beta of 1.26.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Thursday, August 30th. This is an increase from Ebix’s previous quarterly dividend of $0.08. Ebix’s dividend payout ratio (DPR) is 9.46%.
In other news, Director Hans U. Benz sold 2,283 shares of the stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $78.52, for a total value of $179,261.16. Following the completion of the sale, the director now owns 5,721 shares in the company, valued at $449,212.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new stake in Ebix during the second quarter worth about $458,000. Koch Industries Inc. increased its holdings in Ebix by 58.4% during the first quarter. Koch Industries Inc. now owns 6,027 shares of the technology company’s stock worth $449,000 after buying an additional 2,223 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Ebix by 2.6% during the first quarter. Principal Financial Group Inc. now owns 183,471 shares of the technology company’s stock worth $13,669,000 after buying an additional 4,734 shares during the last quarter. First Trust Advisors LP increased its holdings in Ebix by 12.9% during the second quarter. First Trust Advisors LP now owns 1,128,758 shares of the technology company’s stock worth $86,068,000 after buying an additional 128,632 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Ebix by 4.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 119,622 shares of the technology company’s stock worth $8,912,000 after buying an additional 5,350 shares during the last quarter. Institutional investors and hedge funds own 67.85% of the company’s stock.
Ebix Company Profile
Ebix, Inc provides software and e-commerce solutions to insurance, finance, and healthcare 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 life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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