Aqr Capital Management Holding Sells 4,619 Shares of IB Acquisition (NASDAQ:IBAC) Stock

IB Acquisition Corp. (NASDAQ:IBAC) major shareholder Aqr Capital Management Holding sold 4,619 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $10.75, for a total value of $49,654.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Aqr Capital Management Holding also recently made the following trade(s):

• On Monday, March 23rd, Aqr Capital Management Holding sold 335,000 shares of IB Acquisition stock. The shares were sold at an average price of $10.80, for a total transaction of $3,618,000.00.

IB Acquisition Trading Down 1.1%

IB Acquisition stock opened at $10.68 on Friday. IB Acquisition Corp. has a 1 year low of $10.28 and a 1 year high of $11.45. The firm’s 50 day moving average price is $10.64 and its 200-day moving average price is $10.54.

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

Institutional Investors Weigh In On IB Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in IBAC. Clear Street LLC boosted its stake in shares of IB Acquisition by 5,006.3% during the 2nd quarter. Clear Street LLC now owns 28,544 shares of the company’s stock worth $299,000 after purchasing an additional 27,985 shares during the period. Jane Street Group LLC purchased a new stake in IB Acquisition in the 2nd quarter worth about $135,000. Crossingbridge Advisors LLC lifted its stake in IB Acquisition by 10.8% in the third quarter. Crossingbridge Advisors LLC now owns 482,223 shares of the company’s stock worth $5,081,000 after purchasing an additional 46,833 shares during the last quarter. DLD Asset Management LP bought a new stake in IB Acquisition in the third quarter worth about $2,525,000. Finally, RiverPark Advisors LLC boosted its position in shares of IB Acquisition by 49.8% during the third quarter. RiverPark Advisors LLC now owns 246,281 shares of the company’s stock valued at $2,611,000 after buying an additional 81,833 shares during the period.

Analysts Set New Price Targets

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

IB Acquisition Company 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.