Aqr Capital Management Holding Sells 195,806 Shares of IB Acquisition (NASDAQ:IBAC) Stock

Key Points

• Aqr Capital Management Holding sold 195,806 shares of IB Acquisition Corp. for approximately $2.04 million, marking a 98.91% decrease in their ownership position.
• Following the sale, Aqr Capital now holds only 2,162 shares of IB Acquisition, valued at about $22,571.
• IB Acquisition Corp. has received a recent "sell" rating from Weiss Ratings, with the stock currently trading at $10.44, slightly down by 0.2%.

IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) major shareholder Aqr Capital Management Holding sold 195,806 shares of IB Acquisition stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $10.44, for a total transaction of $2,044,214.64. Following the sale, the insider owned 2,162 shares in the company, valued at approximately $22,571.28. The trade was a 98.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, September 29th, Aqr Capital Management Holding sold 122,309 shares of IB Acquisition stock. The stock was sold at an average price of $10.50, for a total transaction of $1,284,244.50.

IB Acquisition Trading Down 0.2%

IBAC traded down $0.03 during trading hours on Tuesday, hitting $10.44. The company's stock had a trading volume of 17,245 shares, compared to its average volume of 31,110. The business's 50-day moving average price is $10.55 and its 200-day moving average price is $10.47. IB Acquisition Corp. has a 12 month low of $10.01 and a 12 month high of $11.45.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d)" rating on shares of IB Acquisition in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IBAC. Mizuho Securities USA LLC purchased a new position in IB Acquisition during the first quarter worth $126,000. Jane Street Group LLC purchased a new position in IB Acquisition during the second quarter worth $135,000. Clear Street LLC boosted its stake in IB Acquisition by 5,006.3% during the second quarter. Clear Street LLC now owns 28,544 shares of the company's stock worth $299,000 after buying an additional 27,985 shares during the period. Quarry LP purchased a new position in IB Acquisition during the first quarter worth $1,032,000. Finally, Tabor Asset Management LP purchased a new position in IB Acquisition during the first quarter worth $2,064,000.

About IB Acquisition

IB Acquisition Corp. is a blank check company. It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities. IB Acquisition Corp. is based in Boca Raton, Florida.

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