Insider Selling: IB Acquisition (NASDAQ:IBAC) Major Shareholder Sells 4,619 Shares of Stock

IB Acquisition Corp. (NASDAQ:IBAC) major shareholder Aqr Capital Management Holding sold 4,619 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $10.75, for a total value of $49,654.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

IB Acquisition Stock Performance

NASDAQ:IBAC opened at $11.00 on Wednesday. IB Acquisition Corp. has a 52 week low of $10.27 and a 52 week high of $11.45. The stock’s fifty day moving average is $10.64 and its two-hundred day moving average is $10.54.

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

Institutional Trading of IB Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBAC. DLD Asset Management LP acquired a new position in IB Acquisition during the third quarter worth $2,525,000. Clear Street Group Inc. acquired a new stake in shares of IB Acquisition in the third quarter valued at $1,116,000. RiverPark Advisors LLC raised its holdings in shares of IB Acquisition by 49.8% in the 3rd quarter. RiverPark Advisors LLC now owns 246,281 shares of the company’s stock valued at $2,611,000 after buying an additional 81,833 shares during the period. Crossingbridge Advisors LLC raised its holdings in shares of IB Acquisition by 10.8% in the 3rd quarter. Crossingbridge Advisors LLC now owns 482,223 shares of the company’s stock valued at $5,081,000 after buying an additional 46,833 shares during the period. Finally, Wolverine Asset Management LLC lifted its stake 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 acquiring an additional 40,000 shares in the last quarter.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.