IB Acquisition (NASDAQ:IBAC) Major Shareholder Sells $49,654.25 in Stock

Key Points

• Aqr Capital Management Holding sold 4,619 shares of IB Acquisition on March 20 at an average price of $10.75, a transaction totaling $49,654.25 disclosed in an SEC filing.
• Shares of IBAC opened at $11.00 and were trading up about 2.4%, with a 50-day SMA of $10.64, 200-day SMA of $10.54, and a 52-week range of $10.27–$11.45.
• Weiss Ratings upgraded IB Acquisition from "sell (d+)" to "hold (c-)," giving the stock a consensus "Hold" rating, while several institutions (Jane Street, ABC Arbitrage, PenderFund, Flow Traders, Virtu) have recently built or increased stakes.

IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) major shareholder Aqr Capital Management Holding sold 4,619 shares of IB Acquisition stock in a transaction on Friday, March 20th. The stock was sold at an average price of $10.75, for a total transaction of $49,654.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

IB Acquisition Trading Up 2.4%

Shares of NASDAQ IBAC opened at $11.00 on Wednesday. The firm has a 50-day simple moving average of $10.64 and a 200-day simple moving average of $10.54. IB Acquisition Corp. has a 52 week low of $10.27 and a 52 week high of $11.45.

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

Analyst Upgrades and Downgrades

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 equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, IB Acquisition has a consensus rating of "Hold".

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in IB Acquisition during the second quarter worth about $135,000. ABC Arbitrage SA purchased a new stake in shares of IB Acquisition in the 4th quarter valued at approximately $210,000. PenderFund Capital Management Ltd. purchased a new stake in shares of IB Acquisition in the 3rd quarter valued at approximately $230,000. Flow Traders U.S. LLC increased its holdings in shares of IB Acquisition by 22.9% during the 3rd quarter. Flow Traders U.S. LLC now owns 23,069 shares of the company's stock worth $243,000 after buying an additional 4,301 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of IB Acquisition during the 3rd quarter worth approximately $260,000.

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.

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