Onespan (NASDAQ:OSPN) Reaches New 12-Month Low on Analyst Downgrade

Key Points

• ONESPAN's shares hit a new 52-week low during trading after Rosenblatt Securities downgraded its price target from $20.00 to $17.00, despite maintaining a buy rating.
• Institutional investors hold 95.52% of ONESPAN's stock, with several increasing their stakes significantly in the second quarter.
• ONESPAN recently announced a quarterly dividend of $0.12 per share, reflecting an annualized yield of 3.8% based on a payout ratio of 31.79%.

Onespan Inc (NASDAQ:OSPN - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday after Wall Street Zen downgraded the stock from a buy rating to a hold rating. The stock traded as low as $12.51 and last traded at $12.71, with a volume of 714795 shares changing hands. The stock had previously closed at $13.89.

Separately, Rosenblatt Securities cut their price target on Onespan from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th.

Insiders Place Their Bets

In related news, Director Garry L. Capers purchased 2,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $13.07 per share, for a total transaction of $26,140.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marc Zenner purchased 2,200 shares of the business's stock in a transaction on Friday, August 8th. The shares were bought at an average price of $12.80 per share, with a total value of $28,160.00. Following the purchase, the director directly owned 71,273 shares in the company, valued at approximately $912,294.40. The trade was a 3.19% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Onespan

Several large investors have recently made changes to their positions in OSPN. LPL Financial LLC bought a new stake in shares of Onespan in the 4th quarter worth approximately $287,000. Alliancebernstein L.P. raised its holdings in shares of Onespan by 275.0% in the 4th quarter. Alliancebernstein L.P. now owns 133,622 shares of the company's stock worth $2,477,000 after purchasing an additional 97,990 shares during the period. Geode Capital Management LLC raised its holdings in shares of Onespan by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 863,224 shares of the company's stock worth $16,008,000 after purchasing an additional 5,750 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Onespan by 183.8% in the 4th quarter. Wells Fargo & Company MN now owns 38,759 shares of the company's stock worth $719,000 after purchasing an additional 25,104 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Onespan by 13.3% in the 4th quarter. Invesco Ltd. now owns 61,492 shares of the company's stock worth $1,140,000 after purchasing an additional 7,198 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.

Onespan Trading Up 3.2%

The company has a market cap of $510.56 million, a P/E ratio of 8.82 and a beta of 1.12. The business's fifty day moving average is $15.77 and its 200 day moving average is $16.16.

Onespan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. Onespan's dividend payout ratio is presently 31.79%.

Onespan Company 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.