Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in Onespan Inc $OSPN

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its stake in Onespan Inc by 66.5% during the first quarter, now owning only 72,511 shares.
• Onespan has announced a quarterly dividend of $0.12 per share, with a yield of 3.5%, set to be paid on September 5th.
• Analysts have recently adjusted their price targets for Onespan, with Rosenblatt Securities lowering theirs from $20.00 to $17.00 while maintaining a "buy" rating.

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Onespan Inc (NASDAQ:OSPN - Free Report) by 66.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,511 shares of the company's stock after selling 143,780 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Onespan worth $1,106,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Copeland Capital Management LLC purchased a new position in Onespan in the 1st quarter worth $64,000. Meeder Asset Management Inc. raised its stake in shares of Onespan by 14.6% in 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 during the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of Onespan during the fourth quarter worth about $147,000. MQS Management LLC purchased a new stake in Onespan in the first quarter valued at approximately $158,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Onespan in the first quarter valued at approximately $183,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OSPN shares. Rosenblatt Securities reduced their price target on shares of Onespan from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen cut Onespan from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $18.00.

Onespan Trading Down 0.1%

Onespan stock traded down $0.0140 during trading on Wednesday, hitting $13.8860. The company had a trading volume of 225,887 shares, compared to its average volume of 415,150. The company's 50 day simple moving average is $15.41 and its 200-day simple moving average is $15.91. Onespan Inc has a 1-year low of $12.51 and a 1-year high of $20.36. The stock has a market cap of $532.25 million, a price-to-earnings ratio of 9.20 and a beta of 1.12.

Onespan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. Onespan's dividend payout ratio is 31.79%.

Insider Activity at Onespan

In related news, Director Marc Zenner purchased 2,200 shares of the business's stock in a transaction on 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 directly owned 71,273 shares in the company, valued at $912,294.40. This trade represents a 3.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Garry L. Capers acquired 2,000 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $13.07 per share, with a total value of $26,140.00. Following the completion of the transaction, the director owned 36,894 shares of the company's stock, valued at approximately $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.

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.