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 bought a new position in Onespan Inc (NASDAQ:OSPN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 32,500 shares of the company's stock, valued at approximately $542,000. Gallacher Capital Management LLC owned approximately 0.09% of Onespan as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Northern Trust Corp lifted its stake in Onespan by 5.4% in the fourth quarter. Northern Trust Corp now owns 406,790 shares of the company's stock worth $7,542,000 after acquiring an additional 20,854 shares during the period. Deutsche Bank AG raised 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 purchasing an additional 10,988 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Onespan by 49.9% in the 4th 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 last quarter. Millennium Management LLC grew its stake in Onespan by 147.5% during the 4th quarter. Millennium Management LLC now owns 56,911 shares of the company's stock valued at $1,055,000 after purchasing an additional 33,913 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in shares of Onespan in the 4th quarter worth $198,000. Institutional investors own 95.52% of the company's stock.

Insider Buying and Selling at Onespan

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 bought at an average price of $12.80 per share, with a total value of $28,160.00. Following the acquisition, the director owned 71,273 shares in the company, valued at approximately $912,294.40. The trade was a 3.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Garry L. Capers acquired 2,000 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $13.07 per share, for a total transaction of $26,140.00. Following the transaction, the director owned 36,894 shares of the company's stock, valued at approximately $482,204.58. This trade represents a 5.73% increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OSPN shares. Wall Street Zen raised shares of Onespan from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Rosenblatt Securities dropped their price objective on Onespan from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, B. Riley began coverage on Onespan in a report on Tuesday, August 26th. They set a "buy" rating and a $23.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $19.67.

Onespan Trading Down 2.4%

Shares of Onespan stock traded down $0.39 during trading hours on Friday, reaching $15.94. 128,825 shares of the company's stock were exchanged, compared to its average volume of 418,266. The firm has a market capitalization of $610.71 million, a price-to-earnings ratio of 10.57 and a beta of 1.30. The company has a fifty day moving average of $14.76 and a 200-day moving average of $15.42. Onespan Inc has a 52-week low of $12.51 and a 52-week high of $20.36.

Onespan Dividend Announcement

The business 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. This represents a $0.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 15th. Onespan's payout ratio is currently 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.