Onespan (NASDAQ:OSPN) Earns Buy Rating from Analysts at B. Riley

B. Riley initiated coverage on shares of Onespan (NASDAQ:OSPN) in a report published on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $23.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. Rosenblatt Securities lowered their price target on shares of Onespan from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Wall Street Zen cut shares of Onespan from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $19.67.

Onespan Stock Performance

Shares of NASDAQ OSPN opened at $14.82 on Monday. Onespan has a fifty-two week low of $12.51 and a fifty-two week high of $20.36. The firm’s 50-day simple moving average is $15.22 and its 200 day simple moving average is $15.74. The stock has a market cap of $568.05 million, a price-to-earnings ratio of 9.81 and a beta of 1.12.

Onespan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, August 15th. Onespan’s payout ratio is currently 31.79%.

Insider Buying and Selling

In other news, Director Garry L. Capers purchased 2,000 shares of Onespan stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $13.07 per share, for a total transaction of $26,140.00. Following the transaction, the director directly 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marc Zenner purchased 2,200 shares of Onespan stock in a transaction dated Friday, August 8th. The shares were purchased 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 directly owned 71,273 shares in the company, valued at approximately $912,294.40. This represents a 3.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Onespan by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 2,370,774 shares of the company’s stock worth $39,568,000 after acquiring an additional 28,219 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Onespan by 8.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,341,305 shares of the company’s stock worth $35,709,000 after acquiring an additional 177,011 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Onespan by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,030,571 shares of the company’s stock worth $33,890,000 after acquiring an additional 181,094 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Onespan by 16.0% during the 2nd quarter. First Trust Advisors LP now owns 1,712,158 shares of the company’s stock worth $28,576,000 after acquiring an additional 236,109 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Onespan by 21.3% during the 2nd quarter. Acadian Asset Management LLC now owns 985,370 shares of the company’s stock worth $16,438,000 after acquiring an additional 173,185 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

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.