Onespan Inc $OSPN Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Onespan Inc. by 230,666.7%, owning 34,615 shares valued at approximately $529,000 after additional purchases in the first quarter.
• Onespan's quarterly dividend of $0.12 will be paid on September 5th, resulting in an annualized yield of 3.2%.
• Wall Street analysts have mixed reviews on Onespan, with a consensus rating of "Buy" and a target price of $19.67, despite some recent downgrades.

Russell Investments Group Ltd. lifted its stake in Onespan Inc (NASDAQ:OSPN - Free Report) by 230,666.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,615 shares of the company's stock after purchasing an additional 34,600 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Onespan worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in Onespan during the 4th quarter valued at $511,000. Barclays PLC increased its position in shares of Onespan by 9.9% during the fourth quarter. Barclays PLC now owns 73,350 shares of the company's stock worth $1,361,000 after acquiring an additional 6,631 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 70,525 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of Onespan during the fourth quarter worth $147,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Onespan during the fourth quarter worth $548,000. 95.52% of the stock is owned by institutional investors.

Onespan Trading Down 0.3%

OSPN stock traded down $0.05 on Friday, hitting $15.15. 48,876 shares of the company's stock traded hands, compared to its average volume of 417,758. The stock has a fifty day moving average of $15.13 and a 200-day moving average of $15.54. 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 $580.66 million, a price-to-earnings ratio of 10.03 and a beta of 1.30.

Onespan Announces Dividend

The company 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. This represents a $0.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 15th. Onespan's dividend payout ratio is presently 31.79%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OSPN. B. Riley began coverage on shares of Onespan in a research note on Tuesday, August 26th. They set a "buy" rating and a $23.00 price objective for the company. Rosenblatt Securities reduced their price objective on shares of Onespan from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Onespan from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $19.67.

Insider Activity

In other news, Director Garry L. Capers purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $13.07 per share, for a total transaction of $26,140.00. Following the completion of the transaction, the director owned 36,894 shares in the company, valued at $482,204.58. This represents a 5.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marc Zenner purchased 2,200 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost 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. This trade represents a 3.19% 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.