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 company’s stock in a transaction that occurred 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 sale, the insider owned 1,103 shares in the company, valued at approximately $11,912.40. This represents a 99.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares 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 Stock Down 1.1%

Shares of IBAC stock opened at $10.68 on Friday. The stock’s fifty day simple moving average is $10.64 and its 200 day simple moving average is $10.54. IB Acquisition Corp. has a one year low of $10.28 and a one year high of $11.45.

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

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded 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, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On IB Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC grew its holdings in shares of IB Acquisition by 70.9% during the fourth quarter. Virtu Financial LLC now owns 42,298 shares of the company’s stock worth $444,000 after purchasing an additional 17,548 shares during the last quarter. HRT Financial LP bought a new position in shares of IB Acquisition in the fourth quarter valued at about $409,000. ABC Arbitrage SA acquired a new position in IB Acquisition during the 4th quarter worth about $210,000. Wolverine Asset Management LLC lifted its position in IB Acquisition by 40.0% during the 4th quarter. Wolverine Asset Management LLC now owns 140,000 shares of the company’s stock worth $1,470,000 after buying an additional 40,000 shares in the last quarter. Finally, Susquehanna International Group LLP grew its holdings in IB Acquisition by 60.0% during the 3rd quarter. Susquehanna International Group LLP now owns 25,111 shares of the company’s stock worth $264,000 after acquiring an additional 9,416 shares during the last quarter.

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.