Aqr Capital Management Holding Sells 335,000 Shares of IB Acquisition (NASDAQ:IBAC) Stock

IB Acquisition Corp. (NASDAQ:IBAC) major shareholder Aqr Capital Management Holding sold 335,000 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $10.80, for a total value of $3,618,000.00. Following the completion of the transaction, the insider owned 1,103 shares of the company’s stock, valued at $11,912.40. This trade represents a 99.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, March 20th, Aqr Capital Management Holding sold 4,619 shares of IB Acquisition stock. The stock was sold at an average price of $10.75, for a total value of $49,654.25.

IB Acquisition Price Performance

NASDAQ IBAC traded up $0.06 on Wednesday, hitting $10.80. 594 shares of the company were exchanged, compared to its average volume of 13,765. The company’s 50 day moving average price is $10.64 and its 200-day moving average price is $10.54. IB Acquisition Corp. has a twelve month low of $10.27 and a twelve month high of $11.45.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IBAC. Crossingbridge Advisors LLC lifted its stake in IB Acquisition by 10.8% in the 3rd quarter. Crossingbridge Advisors LLC now owns 482,223 shares of the company’s stock worth $5,081,000 after acquiring an additional 46,833 shares in the last quarter. RiverPark Advisors LLC grew its stake in IB Acquisition by 49.8% during the 3rd quarter. RiverPark Advisors LLC now owns 246,281 shares of the company’s stock valued at $2,611,000 after acquiring an additional 81,833 shares in the last quarter. DLD Asset Management LP purchased a new position in IB Acquisition during the 3rd quarter valued at about $2,525,000. Wolverine Asset Management LLC increased its holdings in shares of IB Acquisition by 40.0% in the 4th quarter. Wolverine Asset Management LLC now owns 140,000 shares of the company’s stock valued at $1,470,000 after purchasing an additional 40,000 shares during the period. Finally, Clear Street Group Inc. acquired a new position in shares of IB Acquisition in the 3rd quarter valued at about $1,116,000.

About IB Acquisition

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.