Crossingbridge Advisors LLC Acquires 46,833 Shares of IB Acquisition Corp. $IBAC

Crossingbridge Advisors LLC raised its holdings in IB Acquisition Corp. (NASDAQ:IBAC) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 482,223 shares of the company’s stock after acquiring an additional 46,833 shares during the period. IB Acquisition comprises 2.3% of Crossingbridge Advisors LLC’s holdings, making the stock its 10th biggest holding. Crossingbridge Advisors LLC’s holdings in IB Acquisition were worth $5,081,000 as of its most recent SEC filing.

Separately, Clear Street LLC boosted its stake in shares of IB Acquisition by 5,006.3% in the 2nd quarter. Clear Street LLC now owns 28,544 shares of the company’s stock valued at $299,000 after purchasing an additional 27,985 shares in the last quarter.

IB Acquisition Stock Performance

Shares of IBAC stock opened at $10.72 on Monday. IB Acquisition Corp. has a twelve month low of $10.25 and a twelve month high of $11.45. The stock’s fifty day simple moving average is $10.58 and its 200 day simple moving average is $10.52.

IB Acquisition (NASDAQ:IBAC) last posted its earnings results on Monday, December 29th. The company reported $0.06 EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of IB Acquisition from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

IB Acquisition Profile

IB Acquisition Corp (NASDAQ: IBAC) is a special purpose acquisition company (SPAC) formed with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company does not generate any operating revenues and its business plan is entirely dependent on identifying or acquiring a suitable target business in accordance with its charter.

Incorporated in Delaware in 2021, IB Acquisition Corp completed its initial public offering later that year, raising capital that is held in a trust account pending the identification and closing of a business combination.