Key Points
- Aqr Capital Management Holding disclosed sales of IB Acquisition shares: 4,619 shares on March 20 at $10.75 (≈$49,654) and 335,000 shares on March 23 at $10.80 (≈$3.62M).
- IBAC was trading down about 1.8% with an open of $10.80 (1‑year range $10.27–$11.45); Weiss Ratings upgraded the stock to "hold" and MarketBeat shows a consensus "Hold".
- IB Acquisition is a 2021-formed SPAC with no operating revenues, holding IPO proceeds in trust while it seeks a business combination.
IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) 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 transaction of $49,654.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Aqr Capital Management Holding also recently made the following trade(s):
- On Monday, March 23rd, Aqr Capital Management Holding sold 335,000 shares of IB Acquisition stock. The shares were sold at an average price of $10.80, for a total transaction of $3,618,000.00.
IB Acquisition Trading Down 1.8%
IBAC opened at $10.80 on Thursday. IB Acquisition Corp. has a 1-year low of $10.27 and a 1-year high of $11.45. The company has a 50 day simple moving average of $10.64 and a two-hundred day simple moving average of $10.54.
IB Acquisition (NASDAQ:IBAC - Get Free Report) last announced its quarterly earnings data on Monday, December 29th. The company reported $0.06 EPS for the quarter.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings raised IB Acquisition from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 2nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, IB Acquisition presently has a consensus rating of "Hold".
Get Our Latest Analysis on IB Acquisition
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC boosted its stake in IB Acquisition by 70.9% in the 4th 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 period. HRT Financial LP bought a new position in shares of IB Acquisition during the fourth quarter worth $409,000. ABC Arbitrage SA purchased a new position in IB Acquisition during the fourth quarter valued at $210,000. Wolverine Asset Management LLC increased its holdings in IB Acquisition by 40.0% in the 4th quarter. Wolverine Asset Management LLC now owns 140,000 shares of the company's stock valued at $1,470,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Susquehanna International Group LLP increased its holdings in IB Acquisition by 60.0% in 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.
IB Acquisition Company Profile
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Get Free Report)
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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