Onespan's (OSPN) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• Onespan's stock received a "hold (C+)" rating reaffirmed by Weiss Ratings, while several other analysts have varied opinions, with one initiating it as a "buy" with a target price of $23.00.
• The company's stock is currently trading around $15.68, with a twelve-month range between $12.51 and $20.36.
• Insider transactions indicated confidence in the company, with two directors purchasing shares, and hedge funds own 95.52% of its stock.

Onespan (NASDAQ:OSPN - Get Free Report)'s stock had its "hold (c+)" rating reissued by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research analysts also recently weighed in on the company. B. Riley initiated coverage on Onespan in a research note on Tuesday, August 26th. They issued a "buy" rating and a $23.00 target price on the stock. Wall Street Zen raised Onespan from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Finally, Rosenblatt Securities reduced their price target on Onespan from $20.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.67.

Onespan Trading Down 0.4%

Shares of OSPN stock opened at $15.68 on Wednesday. The business's 50 day moving average is $14.95 and its two-hundred day moving average is $15.40. Onespan has a twelve month low of $12.51 and a twelve month high of $20.36. The company has a market capitalization of $601.01 million, a P/E ratio of 10.38 and a beta of 1.32.

Insider Buying and Selling at Onespan

In related news, Director Marc Zenner purchased 2,200 shares of the company's stock in a transaction on Friday, August 8th. The stock was bought at an average price of $12.80 per share, with a total value of $28,160.00. Following the completion of the transaction, the director owned 71,273 shares of the company's stock, valued at approximately $912,294.40. This represents a 3.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Garry L. Capers purchased 2,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $13.07 per share, with a total value of $26,140.00. Following the transaction, the director directly owned 36,894 shares of the company's stock, valued at $482,204.58. This represents a 5.73% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Onespan

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc grew its position in shares of Onespan by 1.2% in the second quarter. Legal & General Group Plc now owns 2,370,774 shares of the company's stock valued at $39,568,000 after purchasing an additional 28,219 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Onespan by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,341,305 shares of the company's stock valued at $35,709,000 after purchasing an additional 177,011 shares during the period. Ameriprise Financial Inc. grew its position in shares of Onespan by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 2,030,571 shares of the company's stock valued at $33,890,000 after purchasing an additional 181,094 shares during the period. First Trust Advisors LP grew its position in shares of Onespan by 16.0% in the second quarter. First Trust Advisors LP now owns 1,712,158 shares of the company's stock valued at $28,576,000 after purchasing an additional 236,109 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Onespan by 21.3% in the second 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. Hedge funds and other institutional investors own 95.52% of the company's stock.

About Onespan

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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