Gallacher Capital Management LLC Invests $542,000 in Onespan Inc $OSPN

Key Points

• Gallacher Capital Management LLC invested approximately $542,000 in Onespan Inc (NASDAQ:OSPN), acquiring 32,500 shares during the second quarter, increasing their ownership to 0.09%.
• Wall Street analysts have a consensus rating of "Buy" on Onespan, with an average target price of $19.67, following several recent upgrades and coverage initiations by analysts.
• Onespan also announced a quarterly dividend of $0.12 per share, resulting in an annualized yield of 3.1% based on the company's current stock price.

Gallacher Capital Management LLC acquired a new position in shares of Onespan Inc (NASDAQ:OSPN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 32,500 shares of the company's stock, valued at approximately $542,000. Gallacher Capital Management LLC owned 0.09% of Onespan at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Comerica Bank increased its position in shares of Onespan by 455.2% during the first 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 acquired a new position in shares of Onespan during the first quarter worth $64,000. Meeder Asset Management Inc. grew its stake in shares of Onespan by 14.6% during the first quarter. Meeder Asset Management Inc. now owns 6,164 shares of the company's stock worth $94,000 after purchasing an additional 783 shares in the last quarter. MQS Management LLC acquired a new position in shares of Onespan during the first quarter worth $158,000. Finally, ProShare Advisors LLC acquired a new position in shares of Onespan during the fourth quarter worth $198,000. Hedge funds and other institutional investors own 95.52% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Onespan

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

Onespan Trading Down 0.5%

Shares of Onespan stock opened at $15.33 on Monday. Onespan Inc has a 12-month low of $12.51 and a 12-month high of $20.36. The stock has a market cap of $587.60 million, a PE ratio of 10.15 and a beta of 1.30. The company has a 50-day moving average of $14.92 and a two-hundred day moving average of $15.42.

Onespan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a $0.12 dividend. 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 3.1%. Onespan's dividend payout ratio (DPR) is 31.79%.

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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