Connor Clark & Lunn Investment Management Ltd. Sells 143,780 Shares of 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. lessened its holdings in 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 (SEC). The fund owned 72,511 shares of the company's stock after selling 143,780 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Onespan worth $1,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Onespan by 27.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,164,294 shares of the company's stock worth $40,129,000 after acquiring an additional 469,628 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Onespan by 28.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,764,292 shares of the company's stock worth $32,710,000 after acquiring an additional 395,222 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Onespan by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 917,691 shares of the company's stock worth $17,015,000 after acquiring an additional 70,525 shares during the last quarter. Geode Capital Management LLC grew its position in Onespan by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 863,224 shares of the company's stock worth $16,008,000 after purchasing an additional 5,750 shares in the last quarter. Finally, Oberweis Asset Management Inc. grew its position in Onespan by 47.1% in the 4th quarter. Oberweis Asset Management Inc. now owns 545,450 shares of the company's stock worth $10,113,000 after purchasing an additional 174,750 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company's stock.

Insider Buying and Selling

In related news, Director Garry L. Capers bought 2,000 shares of Onespan stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $13.07 per share, with a total value of $26,140.00. Following the transaction, the director directly owned 36,894 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc Zenner bought 2,200 shares of Onespan stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $12.80 per share, with a total value of $28,160.00. Following the completion of the transaction, the director directly owned 71,273 shares in the company, valued at approximately $912,294.40. This trade represents a 3.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OSPN shares. Rosenblatt Securities reduced their price objective 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 downgraded shares of 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, According to MarketBeat, Onespan has a consensus rating of "Buy" and an average target price of $18.00.

Onespan Trading Up 1.4%

Shares of NASDAQ:OSPN traded up $0.19 during midday trading on Thursday, reaching $13.99. The company had a trading volume of 343,820 shares, compared to its average volume of 448,802. The company's 50 day moving average price is $15.31 and its 200 day moving average price is $15.87. The stock has a market cap of $536.24 million, a P/E ratio of 9.26 and a beta of 1.12. Onespan Inc has a 52-week low of $12.51 and a 52-week high of $20.36.

Onespan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 15th. Onespan's dividend 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.