Onespan (NASDAQ:OSPN) Stock: Insider Michael Mcconnell Sells 10,000 Shares

Key Points

• Director Michael McConnell sold 10,000 shares for $221,200, reducing his position by 12.44%; he retained 70,398 shares.
• OneSpan beat quarterly expectations, reporting EPS of $0.35 versus $0.24 expected and revenue of $63.89 million versus $57.43 million forecast.
• Analysts’ consensus rating was Hold, with an average price target of $24. The company also announced a $0.13 quarterly dividend, equal to a 2.3% annualized yield.

Onespan Inc (NASDAQ:OSPN - Get Free Report) Director Michael Mcconnell sold 10,000 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $22.12, for a total transaction of $221,200.00. Following the sale, the director directly owned 70,398 shares of the company's stock, valued at $1,557,203.76. This represents a 12.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Onespan Trading Down 0.5%

Onespan stock traded down $0.12 during mid-day trading on Friday, hitting $22.31. 1,198,199 shares of the stock were exchanged, compared to its average volume of 586,262. The stock has a market capitalization of $823.24 million, a price-to-earnings ratio of 12.33, a PEG ratio of 1.87 and a beta of 1.52. Onespan Inc has a 12 month low of $10.07 and a 12 month high of $27.45. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.02. The firm's fifty day simple moving average is $19.06 and its two-hundred day simple moving average is $14.55.

Onespan (NASDAQ:OSPN - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. Onespan had a net margin of 27.52% and a return on equity of 15.96%. The company had revenue of $63.89 million for the quarter, compared to analyst estimates of $57.43 million. Analysts forecast that Onespan Inc will post 1.08 EPS for the current year.

Onespan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be issued a $0.13 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.52 annualized dividend and a yield of 2.3%. Onespan's payout ratio is presently 28.73%.

Wall Street Analysts Forecast Growth

OSPN has been the topic of a number of research analyst reports. DA Davidson upped their price target on shares of Onespan from $16.00 to $22.00 and gave the company a "neutral" rating in a research report on Friday, October 30th. Rosenblatt Securities lowered Onespan from a "buy" rating to a "neutral" rating and set a $18.00 price objective for the company. in a research report on Tuesday, October 27th. Weiss Ratings raised Onespan from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. B. Riley Financial boosted their price objective on Onespan from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, October 30th. Finally, Wall Street Zen upgraded Onespan from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $24.00.

Institutional Trading of Onespan

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Onespan during the 2nd quarter valued at $59,607,000. Legal & General Group Plc bought a new position in Onespan during the second quarter worth $31,248,000. Dimensional Fund Advisors LP boosted its stake in Onespan by 31.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,464,524 shares of the company's stock worth $15,421,000 after acquiring an additional 349,648 shares in the last quarter. First Trust Advisors LP grew its holdings in Onespan by 788.1% in the third quarter. First Trust Advisors LP now owns 1,436,801 shares of the company's stock worth $25,733,000 after purchasing an additional 1,275,018 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Onespan by 94.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,268,242 shares of the company's stock worth $13,355,000 after purchasing an additional 617,092 shares during the period. Institutional investors and hedge funds own 95.52% of the company's stock.

About Onespan

OneSpan Inc. provides cybersecurity and digital agreement solutions that help organizations protect digital interactions and transactions. Its offerings are used by financial institutions, government agencies and other businesses to support secure access, identity verification and digital workflows. The company's products include authentication tools, such as hardware and software-based security credentials, and OneSpan Sign, an electronic signature solution. OneSpan also offers software and services for managing digital agreements and securing transactions across online and mobile channels.

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