Goldman Sachs Group Inc. Lowers Stock Position in Onespan Inc $OSPN

Key Points

• Goldman Sachs Group Inc. reduced its stake in Onespan Inc by 28.5%, now holding 1.02% of the company's shares worth approximately $5.95 million.
• Multiple hedge funds, including Meeder Asset Management and Comerica Bank, have either increased or decreased their positions in Onespan, with institutional investors owning 95.52% of the company's stock.
• Onespan recently paid a quarterly dividend of $0.12 per share, reflecting an annualized dividend yield of 3.1%.

Goldman Sachs Group Inc. reduced its holdings in shares of Onespan Inc (NASDAQ:OSPN - Free Report) by 28.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 390,099 shares of the company's stock after selling 155,500 shares during the period. Goldman Sachs Group Inc. owned about 1.02% of Onespan worth $5,949,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in Onespan in the first quarter valued at about $3,594,000. Pacer Advisors Inc. acquired a new position in Onespan in the first quarter valued at about $3,276,000. AQR Capital Management LLC boosted its position in Onespan by 55.3% in the first quarter. AQR Capital Management LLC now owns 565,993 shares of the company's stock valued at $8,631,000 after buying an additional 201,585 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Onespan by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,341,305 shares of the company's stock valued at $35,709,000 after buying an additional 177,011 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in Onespan in the first quarter valued at about $2,550,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Onespan Stock Performance

Shares of NASDAQ OSPN traded down $0.61 during midday trading on Friday, reaching $15.71. The stock had a trading volume of 1,246,286 shares, compared to its average volume of 417,129. The firm has a market cap of $602.16 million, a price-to-earnings ratio of 10.40 and a beta of 1.30. Onespan Inc has a twelve month low of $12.51 and a twelve month high of $20.36. The company's 50 day moving average price is $14.76 and its 200 day moving average price is $15.41.

Onespan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, August 15th. This represents a $0.48 annualized dividend and a yield of 3.1%. Onespan's dividend payout ratio is presently 31.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OSPN. B. Riley began coverage on shares of Onespan in a research note on Tuesday, August 26th. They issued a "buy" rating and a $23.00 target price for the company. Rosenblatt Securities dropped 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 raised shares of Onespan from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $19.67.

Insider Buying and Selling at Onespan

In other news, Director Marc Zenner bought 2,200 shares of Onespan stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $12.80 per share, for a total transaction of $28,160.00. Following the purchase, the director directly owned 71,273 shares in the company, valued at $912,294.40. The trade was a 3.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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. Corporate insiders own 1.30% of the company's stock.

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.