Aqr Capital Management Holding Sells 122,309 Shares of IB Acquisition (NASDAQ:IBAC) Stock

IB Acquisition Corp. (NASDAQ:IBAC) major shareholder Aqr Capital Management Holding sold 122,309 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $10.50, for a total transaction of $1,284,244.50. Following the completion of the sale, the insider directly owned 3,113 shares in the company, valued at $32,686.50. This trade represents a 97.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.

IB Acquisition Stock Performance

Shares of NASDAQ:IBAC opened at $10.49 on Friday. The business has a 50 day simple moving average of $10.55 and a two-hundred day simple moving average of $10.46. IB Acquisition Corp. has a 1 year low of $10.01 and a 1 year high of $11.45.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of IB Acquisition in a report on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, IB Acquisition has a consensus rating of “Sell”.

Hedge Funds Weigh In On IB Acquisition

A number of hedge funds have recently added to or reduced their stakes in the stock. Wealthspring Capital LLC lifted its holdings in shares of IB Acquisition by 82.0% in the 2nd quarter. Wealthspring Capital LLC now owns 657,565 shares of the company’s stock worth $6,865,000 after buying an additional 296,357 shares during the period. Tabor Asset Management LP bought a new stake in shares of IB Acquisition in the first quarter valued at about $2,064,000. Quarry LP purchased a new stake in IB Acquisition in the first quarter worth about $1,032,000. Wolverine Asset Management LLC lifted its stake in IB Acquisition by 16.6% in the first quarter. Wolverine Asset Management LLC now owns 662,496 shares of the company’s stock worth $6,824,000 after acquiring an additional 94,209 shares during the period. Finally, Clear Street LLC grew its holdings in IB Acquisition by 5,006.3% during the 2nd quarter. Clear Street LLC now owns 28,544 shares of the company’s stock worth $299,000 after acquiring an additional 27,985 shares in the last quarter.

IB Acquisition Company Profile

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.