Y Intercept Hong Kong Ltd Acquires 106,960 Shares of Onespan Inc $OSPN

Key Points

• Y Intercept Hong Kong Ltd boosted its OneSpan stake by 858.5% in Q1, buying 106,960 additional shares and bringing its total holdings to 119,419 shares worth about $1.26 million.
• OneSpan saw mixed insider and analyst activity: CFO Jorge Garcia Martell sold 20,000 shares, while analysts currently have a Hold consensus with a $16.67 target price.
• The company recently beat quarterly earnings estimates, reporting $0.39 EPS on revenue of $65.95 million, and it paid a quarterly dividend of $0.13 per share, implying a 3.4% annual yield.

Y Intercept Hong Kong Ltd increased its holdings in Onespan Inc (NASDAQ:OSPN - Free Report) by 858.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,419 shares of the company's stock after purchasing an additional 106,960 shares during the period. Y Intercept Hong Kong Ltd owned 0.32% of Onespan worth $1,257,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Deprince Race & Zollo Inc. raised its position in shares of Onespan by 19.7% during the first quarter. Deprince Race & Zollo Inc. now owns 459,505 shares of the company's stock valued at $4,839,000 after buying an additional 75,580 shares during the last quarter. Invesco Ltd. boosted its position in shares of Onespan by 4.5% during the fourth quarter. Invesco Ltd. now owns 98,190 shares of the company's stock worth $1,261,000 after acquiring an additional 4,197 shares during the last quarter. Lynrock Lake LP grew its stake in Onespan by 14.8% during the fourth quarter. Lynrock Lake LP now owns 432,440 shares of the company's stock valued at $5,553,000 after acquiring an additional 55,774 shares in the last quarter. XTX Topco Ltd purchased a new position in Onespan during the fourth quarter valued at $465,000. Finally, Numerai GP LLC bought a new stake in Onespan in the 4th quarter valued at $2,233,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Jorge Garcia Martell sold 20,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $14.45, for a total value of $289,000.00. Following the sale, the chief financial officer owned 91,018 shares of the company's stock, valued at approximately $1,315,210.10. This represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on OSPN. Zacks Research raised shares of Onespan from a "strong sell" rating to a "hold" rating in a report on Friday, May 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $15.00 target price on shares of Onespan in a research report on Thursday, June 25th. DA Davidson reissued a "neutral" rating and set a $12.00 price target on shares of Onespan in a research note on Tuesday, June 30th. Weiss Ratings upgraded Onespan from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. Finally, Wall Street Zen downgraded Onespan from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.67.

Onespan Stock Performance

Shares of NASDAQ:OSPN traded down $0.04 on Friday, reaching $15.17. The company's stock had a trading volume of 353,441 shares, compared to its average volume of 383,805. Onespan Inc has a 52-week low of $10.07 and a 52-week high of $17.46. The company has a market cap of $562.35 million, a P/E ratio of 8.38, a PEG ratio of 1.36 and a beta of 1.53. The company has a 50-day simple moving average of $13.64 and a 200 day simple moving average of $12.21.

Onespan (NASDAQ:OSPN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.03. The firm had revenue of $65.95 million during the quarter, compared to the consensus estimate of $62.40 million. Onespan had a net margin of 28.47% and a return on equity of 18.03%. On average, equities research analysts forecast that Onespan Inc will post 1.02 EPS for the current fiscal year.

Onespan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 14th. Onespan's payout ratio is presently 28.73%.

About Onespan

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.

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