Traders Purchase Large Volume of Call Options on Onespan (NASDAQ:OSPN)

Onespan Inc (NASDAQ:OSPN) was the target of some unusual options trading activity on Tuesday. Investors acquired 2,213 call options on the company. This is an increase of 1,328% compared to the average volume of 155 call options.

Shares of OSPN traded up $0.61 during trading hours on Tuesday, hitting $27.59. The company had a trading volume of 18,007 shares, compared to its average volume of 489,937. The firm has a fifty day moving average price of $21.37 and a 200-day moving average price of $18.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.76 and a current ratio of 3.03. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 74.65, a P/E/G ratio of 5.63 and a beta of 1.05. Onespan has a 52-week low of $10.88 and a 52-week high of $27.24.

Onespan (NASDAQ:OSPN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.11. Onespan had a return on equity of 10.91% and a net margin of 5.53%. The firm had revenue of $56.50 million during the quarter, compared to analyst estimates of $50.35 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. Onespan’s quarterly revenue was up 18.7% compared to the same quarter last year. Research analysts anticipate that Onespan will post 0.47 earnings per share for the current fiscal year.

In other Onespan news, Director T Kendall Hunt sold 192,631 shares of Onespan stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $19.35, for a total transaction of $3,727,409.85. Following the transaction, the director now directly owns 5,154,658 shares of the company’s stock, valued at $99,742,632.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marc Boroditsky purchased 3,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $17.25 per share, for a total transaction of $51,750.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $51,750. The disclosure for this purchase can be found here. Insiders sold 694,878 shares of company stock worth $13,788,520 over the last ninety days. 18.00% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in shares of Onespan by 5.7% during the 1st quarter. State Street Corp now owns 1,073,389 shares of the company’s stock valued at $19,482,000 after buying an additional 57,695 shares in the last quarter. Royal Bank of Canada increased its holdings in Onespan by 200.4% in the 1st quarter. Royal Bank of Canada now owns 13,685 shares of the company’s stock valued at $248,000 after acquiring an additional 9,130 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in Onespan by 21.2% in the 1st quarter. Rice Hall James & Associates LLC now owns 90,433 shares of the company’s stock valued at $1,641,000 after acquiring an additional 15,815 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in Onespan by 67.1% in the 1st quarter. State of Tennessee Treasury Department now owns 16,513 shares of the company’s stock valued at $299,000 after acquiring an additional 6,633 shares during the last quarter. Finally, United Capital Financial Advisers LLC increased its holdings in Onespan by 92.7% in the 1st quarter. United Capital Financial Advisers LLC now owns 64,449 shares of the company’s stock valued at $1,170,000 after acquiring an additional 31,003 shares during the last quarter. Institutional investors and hedge funds own 68.93% of the company’s stock.

Several brokerages have recently issued reports on OSPN. BidaskClub upgraded shares of Onespan from a “buy” rating to a “strong-buy” rating in a report on Saturday. Needham & Company LLC raised their target price on shares of Onespan from $24.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Sidoti raised their target price on shares of Onespan from $23.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. ValuEngine cut shares of Onespan from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Finally, BTIG Research reiterated a “neutral” rating on shares of Onespan in a report on Friday, March 27th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $25.40.

About Onespan

OneSpan, Inc engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. Its solutions has the following functions: secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to easily integrate security functions into their web-based and mobile applications; and facilitate digital transactions involving the signing, sending, and managing of documents.

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