Moab Capital Partners Lowers stake in Ebix Inc (EBIX)

Ebix Inc (EBIX) : Moab Capital Partners reduced its stake in Ebix Inc by 17.71% during the most recent quarter end. The investment management company now holds a total of 308,681 shares of Ebix Inc which is valued at $17,042,278 after selling 66,422 shares in Ebix Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ebix Inc makes up approximately 5.92% of Moab Capital Partners’s portfolio.

Other Hedge Funds, Including , Walleye Trading reduced its stake in EBIX by selling 677 shares or 30.18% in the most recent quarter. The Hedge Fund company now holds 1,566 shares of EBIX which is valued at $86,459. Ebix Inc makes up approx 0.01% of Walleye Trading’s portfolio.Aperio Group reduced its stake in EBIX by selling 314 shares or 4.23% in the most recent quarter. The Hedge Fund company now holds 7,105 shares of EBIX which is valued at $392,267. Gsa Capital Partners Llp added EBIX to its portfolio by purchasing 5,200 company shares during the most recent quarter which is valued at $284,856. Ebix Inc makes up approx 0.01% of Gsa Capital Partners Llp’s portfolio.Atwood Palmer Inc boosted its stake in EBIX in the latest quarter, The investment management firm added 8,653 additional shares and now holds a total of 314,096 shares of Ebix Inc which is valued at $16,452,348. Ebix Inc makes up approx 2.86% of Atwood Palmer Inc’s portfolio.

Ebix Inc opened for trading at $57 and hit $58 on the upside on Thursday, eventually ending the session at $57.82, with a gain of 1.44% or 0.82 points. The heightened volatility saw the trading volume jump to 1,16,694 shares. Company has a market cap of $1,878 M.

On the company’s financial health, Ebix Inc reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.62. The company had revenue of $49322.00 million for the quarter, compared to analysts expectations of $71.20 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Ebix Inc. (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry including carrier systems agency systems and exchanges as well as custom software development. Ebix conducts its operation through four channels: Exchanges Carrier Systems Broker Systems and Business Process Outsourcing. Ebix operates data exchanges in the areas of life insurance annuities employee health benefits risk management workers compensation and property and casualty (P&C) insurance. Ebix designs and deploys back-end systems for P&C insurance brokers across the world. Ebix also designs and deploys on-demand and back-end systems for P&C insurance companies. Ebix provides business process outsourcing services including project management and Risk Compliance Solutions (RCS) service offerings in the areas of insurance certificate creation and insurance certificate tracking.

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