Ebix Sees Unusually Large Options Volume (EBIX)

Ebix Inc (NASDAQ:EBIX) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 2,000 put options on the stock. This is an increase of 3,126% compared to the typical volume of 62 put options.

In related 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 transaction of $179,261.16. Following the completion of the transaction, the director now directly owns 5,721 shares of the company’s stock, valued at $449,212.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of EBIX. MetLife Investment Advisors LLC acquired a new stake in shares of Ebix in the fourth quarter valued at approximately $856,000. Teachers Advisors LLC grew its position in shares of Ebix by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 43,323 shares of the technology company’s stock valued at $3,433,000 after purchasing an additional 711 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Ebix in the second quarter valued at approximately $458,000. Koch Industries Inc. grew its position in shares of Ebix by 58.4% in the first quarter. Koch Industries Inc. now owns 6,027 shares of the technology company’s stock valued at $449,000 after purchasing an additional 2,223 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Ebix by 146.4% in the fourth quarter. Millennium Management LLC now owns 31,515 shares of the technology company’s stock valued at $2,498,000 after purchasing an additional 18,725 shares during the last quarter. Institutional investors own 67.85% of the company’s stock.

Several research analysts recently issued reports on the stock. Maxim Group set a $113.00 price target on shares of Ebix and gave the stock a “buy” rating in a report on Friday, August 17th. BidaskClub lowered shares of Ebix from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $100.00.

EBIX traded up $1.20 on Friday, hitting $79.65. 125,700 shares of the company were exchanged, compared to its average volume of 180,052. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.08. Ebix has a fifty-two week low of $56.40 and a fifty-two week high of $89.10. The firm has a market capitalization of $2.46 billion, a P/E ratio of 25.10 and a beta of 1.30.

Ebix (NASDAQ:EBIX) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Ebix had a net margin of 24.67% and a return on equity of 19.99%. The company had revenue of $124.60 million for the quarter, compared to analyst estimates of $111.41 million. Ebix’s revenue was up 42.6% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be given a dividend of $0.75 per share. This is a positive change from Ebix’s previous quarterly dividend of $0.08. This represents a $3.00 annualized dividend and a yield of 3.77%. The ex-dividend date is Thursday, August 30th. Ebix’s dividend payout ratio is presently 9.46%.

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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