IB Acquisition Corp. $IBAC Shares Purchased by Wealthspring Capital LLC

Wealthspring Capital LLC boosted its holdings in IB Acquisition Corp. (NASDAQ:IBAC) by 82.0% in the second quarter, HoldingsChannel.com reports. The firm owned 657,565 shares of the company’s stock after acquiring an additional 296,357 shares during the period. IB Acquisition accounts for approximately 1.8% of Wealthspring Capital LLC’s investment portfolio, making the stock its 20th biggest holding. Wealthspring Capital LLC’s holdings in IB Acquisition were worth $6,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IBAC. Mizuho Securities USA LLC acquired a new position in IB Acquisition in the first quarter worth $126,000. Quarry LP acquired a new position in shares of IB Acquisition during the first quarter valued at $1,032,000. Tabor Asset Management LP acquired a new position in shares of IB Acquisition during the first quarter valued at $2,064,000. Finally, Wolverine Asset Management LLC boosted its holdings in shares of IB Acquisition by 16.6% during the first quarter. Wolverine Asset Management LLC now owns 662,496 shares of the company’s stock valued at $6,824,000 after acquiring an additional 94,209 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of IB Acquisition in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Insiders Place Their Bets

In related news, major shareholder Aqr Capital Management Holding sold 195,806 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $10.44, for a total value of $2,044,214.64. Following the completion of the sale, the insider owned 2,162 shares of the company’s stock, valued at $22,571.28. This represents a 98.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

IB Acquisition Stock Down 0.3%

Shares of IB Acquisition stock opened at $10.43 on Wednesday. The business’s fifty day moving average price is $10.51 and its two-hundred day moving average price is $10.48. IB Acquisition Corp. has a 1-year low of $10.05 and a 1-year high of $11.45.

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.