Caxton Associates LLP Acquires New Stake in Onespan Inc $OSPN

Key Points

• Caxton Associates LLP has acquired a new stake in Onespan Inc worth approximately $537,000, holding around 35,227 shares, as per its latest SEC filing.
• Several hedge funds have modified their holdings in Onespan, with GAMMA Investing LLC increasing its holdings by 1,501.9%, representing significant investor interest in the company.
• Analysts have given Onespan a consensus rating of "Buy", with a price target averaging $19.67, following recent upgrades and downgrades by equity research firms.

Caxton Associates LLP purchased a new position in shares of Onespan Inc (NASDAQ:OSPN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,227 shares of the company's stock, valued at approximately $537,000. Caxton Associates LLP owned 0.09% of Onespan at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of OSPN. Northern Trust Corp increased its stake in Onespan by 5.4% during the fourth quarter. Northern Trust Corp now owns 406,790 shares of the company's stock worth $7,542,000 after purchasing an additional 20,854 shares during the period. Deutsche Bank AG increased its stake in shares of Onespan by 38.1% during the fourth quarter. Deutsche Bank AG now owns 39,853 shares of the company's stock worth $739,000 after buying an additional 10,988 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of Onespan during the fourth quarter worth approximately $442,000. Lazard Asset Management LLC increased its stake in shares of Onespan by 49.9% during the fourth quarter. Lazard Asset Management LLC now owns 38,355 shares of the company's stock worth $710,000 after buying an additional 12,767 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Onespan by 147.5% during the fourth quarter. Millennium Management LLC now owns 56,911 shares of the company's stock worth $1,055,000 after buying an additional 33,913 shares during the period. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

Onespan Stock Up 1.4%

Onespan stock traded up $0.21 during mid-day trading on Monday, hitting $15.54. The company had a trading volume of 609,148 shares, compared to its average volume of 420,322. The stock has a market cap of $595.65 million, a price-to-earnings ratio of 10.29 and a beta of 1.30. Onespan Inc has a 1 year low of $12.51 and a 1 year high of $20.36. The business has a fifty day moving average of $14.92 and a 200 day moving average of $15.42.

Onespan Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.1%. Onespan's dividend payout ratio (DPR) is 31.79%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

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.