Arrowstreet Capital Limited Partnership Grows Stock Holdings in Onespan Inc $OSPN

Arrowstreet Capital Limited Partnership boosted its stake in Onespan Inc (NASDAQ:OSPN) by 15.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 765,843 shares of the company’s stock after purchasing an additional 102,243 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Onespan were worth $12,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in OSPN. Invesco Ltd. grew its stake in shares of Onespan by 9.2% in the 1st quarter. Invesco Ltd. now owns 67,173 shares of the company’s stock valued at $1,024,000 after purchasing an additional 5,681 shares during the last quarter. Nuveen LLC purchased a new position in Onespan in the 1st quarter valued at $3,594,000. Russell Investments Group Ltd. grew its position in Onespan by 230,666.7% in the 1st quarter. Russell Investments Group Ltd. now owns 34,615 shares of the company’s stock valued at $529,000 after buying an additional 34,600 shares during the last quarter. American Century Companies Inc. increased its stake in Onespan by 28.4% in the 1st quarter. American Century Companies Inc. now owns 83,186 shares of the company’s stock valued at $1,269,000 after buying an additional 18,392 shares during the period. Finally, Pinnacle Wealth Management LLC purchased a new position in Onespan during the 1st quarter worth $667,000. 95.52% of the stock is owned by institutional investors and hedge funds.

Onespan Stock Up 1.9%

NASDAQ:OSPN opened at $12.45 on Tuesday. Onespan Inc has a 52-week low of $11.00 and a 52-week high of $20.36. The stock has a fifty day simple moving average of $13.81 and a 200-day simple moving average of $14.89. The company has a market capitalization of $473.47 million, a PE ratio of 8.47 and a beta of 1.51.

Onespan (NASDAQ:OSPN) last posted its earnings results on Thursday, October 30th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $57.06 million during the quarter, compared to the consensus estimate of $58.18 million. Onespan had a net margin of 24.08% and a return on equity of 18.41%. As a group, equities analysts anticipate that Onespan Inc will post 1.11 earnings per share for the current year.

Onespan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a yield of 3.9%. Onespan’s dividend payout ratio is presently 32.65%.

Insider Buying and Selling

In related news, Director Michael J. Mcconnell bought 50,000 shares of the stock in a transaction on Wednesday, November 5th. The shares were purchased at an average price of $11.96 per share, for a total transaction of $598,000.00. Following the acquisition, the director owned 83,763 shares in the company, valued at $1,001,805.48. This represents a 148.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OSPN. DA Davidson lowered their price objective on Onespan from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Rosenblatt Securities dropped their price objective on Onespan from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Onespan in a research report on Monday, December 1st. B. Riley started coverage on shares of Onespan in a research report on Tuesday, August 26th. They set a “buy” rating and a $23.00 target price on the stock. Finally, Wall Street Zen cut shares of Onespan from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

About Onespan

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.