Onespan Inc (NASDAQ:OSPN) Sees Significant Decrease in Short Interest

Onespan Inc (NASDAQ:OSPN) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 1,857,448 shares, a decrease of 19.1% from the December 15th total of 2,296,971 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 603,545 shares, the short-interest ratio is currently 3.1 days. Based on an average daily trading volume, of 603,545 shares, the short-interest ratio is currently 3.1 days. Currently, 4.9% of the shares of the stock are sold short.

Onespan Stock Performance

OSPN traded down $0.66 during trading on Monday, reaching $11.81. 815,194 shares of the company’s stock were exchanged, compared to its average volume of 448,916. The company’s fifty day moving average price is $12.60 and its 200-day moving average price is $14.21. The firm has a market capitalization of $449.13 million, a PE ratio of 8.03 and a beta of 1.50. Onespan has a fifty-two week low of $11.00 and a fifty-two week high of $20.36.

Onespan (NASDAQ:OSPN) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. Onespan had a return on equity of 18.41% and a net margin of 24.08%.The business had revenue of $57.06 million for the quarter, compared to analyst estimates of $58.18 million. Research analysts forecast that Onespan will post 1.11 earnings per share for the current fiscal year.

Onespan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, November 14th. Onespan’s payout ratio is presently 32.65%.

Insiders Place Their Bets

In related news, Director Michael J. Mcconnell bought 50,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was bought at an average cost of $11.96 per share, with a total value of $598,000.00. Following the completion of the purchase, the director owned 83,763 shares in the company, valued at approximately $1,001,805.48. The trade was a 148.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of Onespan

A number of hedge funds have recently modified their holdings of OSPN. Legal & General Group Plc grew its holdings in Onespan by 1.2% during 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. First Trust Advisors LP grew its holdings in shares of Onespan by 25.1% in the 3rd quarter. First Trust Advisors LP now owns 2,141,141 shares of the company’s stock valued at $34,023,000 after buying an additional 428,983 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Onespan by 3.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,099,709 shares of the company’s stock valued at $33,364,000 after buying an additional 69,138 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Onespan by 1.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,395,266 shares of the company’s stock valued at $22,171,000 after buying an additional 22,135 shares in the last quarter. Finally, Simcoe Capital Management LLC raised its stake in Onespan by 167.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 1,193,858 shares of the company’s stock worth $18,970,000 after buying an additional 747,578 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OSPN shares. Wall Street Zen lowered shares of Onespan from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Onespan in a research report on Monday, December 29th. Rosenblatt Securities dropped their target price on Onespan from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, DA Davidson decreased their price target on Onespan from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Onespan Company Profile

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.