Pinnacle Wealth Management LLC Makes New $667,000 Investment in Onespan Inc $OSPN

Key Points

• Pinnacle Wealth Management LLC has invested approximately $667,000 in Onespan Inc, acquiring 43,725 shares during the first quarter, representing about 0.11% of the company's stock.
• Onespan recently announced a quarterly dividend of $0.12 per share, with a yield of 3.5% and a payout ratio of 31.79%.
• Analysts have adjusted their price targets for Onespan, with Rosenblatt Securities reducing their target from $20.00 to $17.00 and Wall Street Zen downgrading the stock from a "buy" to a "hold" rating.

Pinnacle Wealth Management LLC purchased a new position in shares of Onespan Inc (NASDAQ:OSPN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 43,725 shares of the company's stock, valued at approximately $667,000. Pinnacle Wealth Management LLC owned 0.11% of Onespan at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Onespan during the first quarter worth about $195,000. Victory Capital Management Inc. raised its position in shares of Onespan by 49.3% during the first quarter. Victory Capital Management Inc. now owns 86,794 shares of the company's stock worth $1,324,000 after purchasing an additional 28,660 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Onespan by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,561 shares of the company's stock worth $395,000 after purchasing an additional 3,994 shares during the period. GAMMA Investing LLC raised its position in shares of Onespan by 1,501.9% during the first quarter. GAMMA Investing LLC now owns 42,563 shares of the company's stock worth $649,000 after purchasing an additional 39,906 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Onespan by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,174 shares of the company's stock worth $546,000 after purchasing an additional 12,332 shares during the period. Institutional investors and hedge funds own 95.52% of the company's stock.

Analyst Upgrades and Downgrades

OSPN has been the topic of a number of research analyst reports. Wall Street Zen lowered Onespan from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Rosenblatt Securities dropped their target price on Onespan from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $18.00.

Insider Activity at Onespan

In related news, Director Marc Zenner purchased 2,200 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $12.80 per share, with a total value of $28,160.00. Following the transaction, the director directly owned 71,273 shares of the company's stock, valued at $912,294.40. This trade represents a 3.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Garry L. Capers purchased 2,000 shares of the stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $13.07 per share, for a total transaction of $26,140.00. Following the transaction, the director directly owned 36,894 shares in the company, valued at approximately $482,204.58. The trade was a 5.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Onespan Stock Performance

NASDAQ OSPN traded down $0.10 during trading on Wednesday, hitting $13.80. The stock had a trading volume of 677,483 shares, compared to its average volume of 427,610. The company has a market capitalization of $528.95 million, a PE ratio of 9.14 and a beta of 1.12. The company's 50-day moving average price is $15.36 and its two-hundred day moving average price is $15.90. Onespan Inc has a 12 month low of $12.51 and a 12 month high of $20.36.

Onespan Announces Dividend

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

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.