240,000 Shares in IB Acquisition Corp. $IBAC Purchased by DLD Asset Management LP

DLD Asset Management LP bought a new stake in IB Acquisition Corp. (NASDAQ:IBAC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 240,000 shares of the company’s stock, valued at approximately $2,525,000. DLD Asset Management LP owned about 1.75% of IB Acquisition as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Clear Street LLC grew 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 acquiring an additional 27,985 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of IB Acquisition in the second quarter worth $135,000. Finally, Crossingbridge Advisors LLC lifted its position in shares of 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 in the last quarter.

Wall Street Analyst Weigh In

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

IB Acquisition Stock Performance

IBAC opened at $10.72 on Monday. The business’s 50-day simple moving average is $10.58 and its 200 day simple moving average is $10.52. IB Acquisition Corp. has a 52-week low of $10.25 and a 52-week high of $11.45.

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

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.