ONESPAN (NASDAQ:OSPN) Reaches New 52-Week 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%.

Shares of ONESPAN INC (NASDAQ:OSPN - Get Free Report) reached a new 52-week low during mid-day trading on Thursday after Rosenblatt Securities lowered their price target on the stock from $20.00 to $17.00. Rosenblatt Securities currently has a buy rating on the stock. ONESPAN traded as low as $12.51 and last traded at $12.71, with a volume of 714795 shares traded. The stock had previously closed at $13.89.

Separately, Wall Street Zen downgraded ONESPAN from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd.

Institutional Trading of ONESPAN

A number of large investors have recently added to or reduced their stakes in OSPN. Acadian Asset Management LLC increased its holdings in shares of ONESPAN by 21.3% in the 2nd quarter. Acadian Asset Management LLC now owns 985,370 shares of the company's stock valued at $16,438,000 after purchasing an additional 173,185 shares during the period. CSM Advisors LLC bought a new position in shares of ONESPAN in the 2nd quarter valued at approximately $3,651,000. Los Angeles Capital Management LLC lifted its stake in shares of ONESPAN by 53.9% in the second quarter. Los Angeles Capital Management LLC now owns 147,976 shares of the company's stock worth $2,470,000 after buying an additional 51,815 shares during the last quarter. Kovack Advisors Inc. lifted its position in shares of ONESPAN by 9.8% during the 2nd quarter. Kovack Advisors Inc. now owns 126,225 shares of the company's stock worth $2,107,000 after purchasing an additional 11,300 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in ONESPAN by 8.2% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 110,029 shares of the company's stock valued at $1,836,000 after buying an additional 8,373 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors.

ONESPAN Price Performance

The company has a market capitalization of $487.17 million, a price-to-earnings ratio of 8.42 and a beta of 1.12. The business has a fifty day moving average price of $15.83 and a 200 day moving average price of $16.25.

ONESPAN Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a $0.12 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.48 annualized dividend and a yield of 3.8%. ONESPAN's 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.

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