AQR Capital Management LLC Acquires 201,585 Shares of Onespan Inc $OSPN

Key Points

• AQR Capital Management LLC increased its stake in Onespan Inc by 55.3%, acquiring an additional 201,585 shares to reach a total of 565,993 shares valued at approximately $8.63 million.
• Onespan's stock has experienced a growth of 2.2%, with a recent trading price of $15.41 and a market capitalization of $590.67 million.
• The company announced a quarterly dividend of $0.12 per share, which is part of an annualized dividend yield of 3.1% based on a payout ratio of 31.79%.

AQR Capital Management LLC boosted its holdings in Onespan Inc (NASDAQ:OSPN - Free Report) by 55.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 565,993 shares of the company's stock after buying an additional 201,585 shares during the quarter. AQR Capital Management LLC owned 1.48% of Onespan worth $8,631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Onespan during the 1st quarter worth approximately $195,000. Victory Capital Management Inc. grew its position in Onespan by 49.3% during the 1st quarter. Victory Capital Management Inc. now owns 86,794 shares of the company's stock worth $1,324,000 after purchasing an additional 28,660 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Onespan by 18.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,561 shares of the company's stock worth $395,000 after purchasing an additional 3,994 shares in the last quarter. GAMMA Investing LLC grew its position in Onespan by 1,501.9% during the 1st quarter. GAMMA Investing LLC now owns 42,563 shares of the company's stock worth $649,000 after purchasing an additional 39,906 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Onespan by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,174 shares of the company's stock worth $546,000 after purchasing an additional 12,332 shares in the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on OSPN shares. Wall Street Zen upgraded shares of Onespan from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. 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 price objective on the stock. Finally, Rosenblatt Securities lowered their price objective on shares of Onespan from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $19.67.

Insiders Place Their Bets

In other news, Director Garry L. Capers bought 2,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $13.07 per share, with a total value of $26,140.00. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marc Zenner acquired 2,200 shares of the company's stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $12.80 per share, for a total transaction of $28,160.00. Following the acquisition, the director owned 71,273 shares in the company, valued at approximately $912,294.40. This trade represents a 3.19% increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Onespan Price Performance

Shares of OSPN stock traded up $0.18 on Wednesday, hitting $15.79. The company's stock had a trading volume of 348,711 shares, compared to its average volume of 424,715. The stock has a market capitalization of $605.23 million, a price-to-earnings ratio of 10.46 and a beta of 1.30. Onespan Inc has a fifty-two week low of $12.51 and a fifty-two week high of $20.36. The firm's fifty day moving average price is $14.78 and its 200-day moving average price is $15.42.

Onespan Dividend Announcement

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

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.