IB Acquisition (NASDAQ:IBAC) Major Shareholder Aqr Capital Management Holding Sells 335,000 Shares

IB Acquisition Corp. (NASDAQ:IBAC) major shareholder Aqr Capital Management Holding sold 335,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $10.80, for a total transaction of $3,618,000.00. Following the completion of the transaction, the insider owned 1,103 shares of the company’s stock, valued at $11,912.40. This trade represents a 99.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major 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 Performance

IBAC traded up $0.06 during trading on Wednesday, reaching $10.80. The stock had a trading volume of 594 shares, compared to its average volume of 13,765. IB Acquisition Corp. has a 1-year low of $10.27 and a 1-year high of $11.45. The stock has a 50 day moving average of $10.64 and a two-hundred day moving average of $10.54.

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

Analysts Set New Price Targets

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

Institutional Trading of IB Acquisition

A number of large investors have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC grew its position in IB Acquisition by 22.9% in the third 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. Susquehanna International Group LLP lifted its position in shares of IB Acquisition by 60.0% during the 3rd quarter. Susquehanna International Group LLP now owns 25,111 shares of the company’s stock valued at $264,000 after acquiring an additional 9,416 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of IB Acquisition during the 2nd quarter worth $135,000. Virtu Financial LLC boosted its stake in shares of IB Acquisition by 70.9% during the 4th quarter. Virtu Financial LLC now owns 42,298 shares of the company’s stock worth $444,000 after acquiring an additional 17,548 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new position in shares of IB Acquisition in the 4th quarter worth $210,000.

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.