Renaissance Technologies LLC Invests $356,000 in Onespan Inc $OSPN

Renaissance Technologies LLC acquired a new stake in shares of Onespan Inc (NASDAQ:OSPN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,829 shares of the company’s stock, valued at approximately $356,000. Renaissance Technologies LLC owned about 0.09% of Onespan at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC raised its stake in Onespan by 1,018.8% in the 4th quarter. Millennium Management LLC now owns 1,211,659 shares of the company’s stock worth $15,558,000 after acquiring an additional 1,103,360 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Onespan by 94.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,268,242 shares of the company’s stock valued at $13,355,000 after purchasing an additional 617,092 shares during the last quarter. Simcoe Capital Management LLC acquired a new position in shares of Onespan in the second quarter valued at about $7,448,000. Dimensional Fund Advisors LP increased its holdings in shares of Onespan by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,524 shares of the company’s stock valued at $15,421,000 after purchasing an additional 349,648 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Onespan by 97.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 649,202 shares of the company’s stock worth $8,336,000 after purchasing an additional 320,000 shares during the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

Onespan Stock Down 0.9%

Shares of OSPN stock opened at $15.78 on Wednesday. The stock has a 50 day moving average of $15.06 and a 200 day moving average of $12.83. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The stock has a market cap of $581.49 million, a P/E ratio of 8.87, a P/E/G ratio of 1.42 and a beta of 1.53. Onespan Inc has a twelve month low of $10.07 and a twelve month high of $18.48.

Onespan (NASDAQ:OSPN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. Onespan had a return on equity of 16.91% and a net margin of 27.76%.The company had revenue of $60.47 million during the quarter, compared to the consensus estimate of $58.25 million. As a group, sell-side analysts expect that Onespan Inc will post 1.05 EPS for the current year.

Onespan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 14th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, August 14th. Onespan’s payout ratio is currently 29.21%.

Insider Transactions at Onespan

In related news, CFO Jorge Garcia Martell sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $14.45, for a total transaction of $289,000.00. Following the sale, the chief financial officer owned 91,018 shares in the company, valued at approximately $1,315,210.10. This trade represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OSPN shares. Zacks Research raised Onespan from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. DA Davidson raised their price target on shares of Onespan from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen cut shares of Onespan from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings raised shares of Onespan from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Finally, Rosenblatt Securities increased their price objective on shares of Onespan from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.00.

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.