Lynrock Lake LP Cuts Stock Position in Onespan Inc $OSPN

Key Points

• Lynrock Lake LP reduced its stake in Onespan Inc by 54.5%, now owning 167,053 shares, which represents 0.2% of its holdings.
• Onespan recently announced a $0.12 quarterly dividend with a yield of 3.2%, and shareholders of record will receive it on September 5th.
• Analysts have mixed views on Onespan, with B. Riley setting a "buy" rating and a price target of $23.00, while others have downgraded their ratings.

Lynrock Lake LP decreased its position in shares of Onespan Inc (NASDAQ:OSPN - Free Report) by 54.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,053 shares of the company's stock after selling 199,713 shares during the period. Onespan makes up approximately 0.2% of Lynrock Lake LP's holdings, making the stock its 20th largest holding. Lynrock Lake LP owned approximately 0.44% of Onespan worth $2,548,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OSPN. Dimensional Fund Advisors LP increased its holdings in shares of Onespan by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 917,691 shares of the company's stock worth $17,015,000 after buying an additional 70,525 shares during the period. State of Tennessee Department of Treasury bought a new stake in Onespan during the 4th quarter valued at approximately $147,000. Tudor Investment Corp ET AL bought a new stake in Onespan during the 4th quarter valued at approximately $1,123,000. Northern Trust Corp boosted its position in Onespan by 5.4% during the 4th quarter. Northern Trust Corp now owns 406,790 shares of the company's stock valued at $7,542,000 after acquiring an additional 20,854 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Onespan by 24.1% during the 4th quarter. AQR Capital Management LLC now owns 364,408 shares of the company's stock valued at $6,756,000 after acquiring an additional 70,815 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company's stock.

Onespan Stock Up 0.5%

OSPN traded up $0.07 during mid-day trading on Thursday, reaching $15.20. 385,804 shares of the company traded hands, compared to its average volume of 485,801. The stock has a market capitalization of $582.62 million, a P/E ratio of 10.07 and a beta of 1.30. The company's fifty day moving average price is $15.13 and its 200-day moving average price is $15.54. 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 disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, August 15th. Onespan's dividend payout ratio is 31.79%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OSPN shares. Rosenblatt Securities dropped their price target on Onespan from $20.00 to $17.00 and set a "buy" rating on the stock 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. Finally, B. Riley started coverage on Onespan in a research report on Tuesday, August 26th. They issued a "buy" rating and a $23.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Onespan has an average rating of "Buy" and a consensus price target of $19.67.

Insider Buying and Selling at Onespan

In related news, Director Garry L. Capers acquired 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, for a total transaction of $26,140.00. Following the purchase, the director directly 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marc Zenner acquired 2,200 shares of Onespan 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 completion of the purchase, the director directly owned 71,273 shares in the company, valued at $912,294.40. This represents a 3.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.30% 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.