Acadian Asset Management LLC Trims Stock Holdings in Onespan Inc $OSPN

Key Points

• Acadian Asset Management LLC has reduced its stake in Onespan Inc by 17.8%, owning approximately 2.12% of the company after selling 176,200 shares.
• Recent analyst ratings indicate a consensus buy rating for Onespan, with a reported average price target of $19.67.
• Onespan announced a quarterly dividend of $0.12 per share, providing an annualized yield of 3.1% for investors.

Acadian Asset Management LLC lessened its position in shares of Onespan Inc (NASDAQ:OSPN - Free Report) by 17.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 812,185 shares of the company's stock after selling 176,200 shares during the period. Acadian Asset Management LLC owned approximately 2.12% of Onespan worth $12,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank lifted its holdings in shares of Onespan by 455.2% during the 1st quarter. Comerica Bank now owns 2,465 shares of the company's stock worth $38,000 after acquiring an additional 2,021 shares during the period. Copeland Capital Management LLC bought a new stake in shares of Onespan during the 1st quarter worth approximately $64,000. Meeder Asset Management Inc. lifted its holdings in shares of Onespan by 14.6% during the 1st quarter. Meeder Asset Management Inc. now owns 6,164 shares of the company's stock worth $94,000 after acquiring an additional 783 shares during the period. MQS Management LLC acquired a new position in Onespan during the 1st quarter worth approximately $158,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Onespan during the 1st quarter worth approximately $183,000. Institutional investors own 95.52% of the company's stock.

Insider Buying and Selling at Onespan

In other news, Director Marc Zenner acquired 2,200 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $12.80 per share, for a total transaction of $28,160.00. Following the completion of the transaction, the director directly owned 71,273 shares in the company, valued at $912,294.40. This represents a 3.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Garry L. Capers acquired 2,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $13.07 per share, with a total value of $26,140.00. Following the completion of the transaction, the director owned 36,894 shares of the company's stock, valued at $482,204.58. This trade represents a 5.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company's stock.

Onespan Stock Up 1.0%

Shares of OSPN stock traded up $0.16 during trading hours on Wednesday, hitting $15.77. 67,679 shares of the company's stock traded hands, compared to its average volume of 417,763. Onespan Inc has a 12 month low of $12.51 and a 12 month high of $20.36. The stock's 50 day simple moving average is $14.82 and its 200 day simple moving average is $15.41. The stock has a market cap of $604.27 million, a PE ratio of 10.44 and a beta of 1.30.

Onespan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 3.0%. Onespan's dividend payout ratio is 31.79%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities lowered their price objective on shares of Onespan from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. B. Riley assumed coverage on shares of Onespan in a research report on Tuesday, August 26th. They set a "buy" rating and a $23.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Onespan from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Onespan presently has a consensus rating of "Buy" and an average price target of $19.67.

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.