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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OSPN. Nuveen LLC purchased a new position in Onespan in the 1st quarter valued at about $3,594,000. Pacer Advisors Inc. purchased a new position in Onespan in the 1st quarter valued at about $3,276,000. AQR Capital Management LLC lifted its stake in Onespan by 55.3% in the 1st quarter. AQR Capital Management LLC now owns 565,993 shares of the company's stock valued at $8,631,000 after buying an additional 201,585 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Onespan by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,341,305 shares of the company's stock valued at $35,709,000 after buying an additional 177,011 shares in the last quarter. Finally, Penn Capital Management Company LLC purchased a new position in Onespan in the 1st quarter valued at about $2,550,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Onespan Price Performance

Shares of NASDAQ OSPN opened at $15.41 on Friday. The company has a 50 day simple moving average of $14.96 and a 200-day simple moving average of $15.44. The company has a market capitalization of $590.67 million, a P/E ratio of 10.21 and a beta of 1.30. Onespan Inc has a 1 year low of $12.51 and a 1 year high of $20.36.

Onespan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.1%. Onespan's dividend payout ratio (DPR) is currently 31.79%.

Insider Buying and Selling

In other news, Director Marc Zenner purchased 2,200 shares of the business's stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $12.80 per share, for a total transaction of $28,160.00. Following the acquisition, the director directly owned 71,273 shares of the company's stock, valued at approximately $912,294.40. This represents a 3.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Garry L. Capers purchased 2,000 shares of the business'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 acquisition, the director directly owned 36,894 shares in the company, valued at approximately $482,204.58. The trade was a 5.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.

Onespan Profile

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.

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