Simcoe Capital Management LLC Buys 747,578 Shares of Onespan Inc $OSPN

Simcoe Capital Management LLC increased its position in shares of Onespan Inc (NASDAQ:OSPN) by 167.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,193,858 shares of the company’s stock after purchasing an additional 747,578 shares during the quarter. Onespan accounts for approximately 2.7% of Simcoe Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Simcoe Capital Management LLC owned 3.14% of Onespan worth $18,970,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Comerica Bank raised its position in shares of Onespan by 455.2% in the 1st quarter. Comerica Bank now owns 2,465 shares of the company’s stock valued at $38,000 after buying an additional 2,021 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Onespan by 37.0% during the 1st quarter. Royal Bank of Canada now owns 67,916 shares of the company’s stock worth $1,036,000 after acquiring an additional 18,328 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Onespan by 23.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 23,068 shares of the company’s stock worth $385,000 after acquiring an additional 4,432 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in Onespan by 4.0% in the second quarter. Jupiter Asset Management Ltd. now owns 254,599 shares of the company’s stock valued at $4,249,000 after acquiring an additional 9,864 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Onespan by 1.7% in the second quarter. Geode Capital Management LLC now owns 967,103 shares of the company’s stock valued at $16,141,000 after acquiring an additional 15,741 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Onespan Price Performance

OSPN stock opened at $10.55 on Friday. The stock has a market cap of $395.31 million, a price-to-earnings ratio of 5.61, a P/E/G ratio of 0.97 and a beta of 1.54. The company has a 50 day simple moving average of $11.54 and a 200 day simple moving average of $13.18. Onespan Inc has a 1 year low of $10.16 and a 1 year high of $18.13.

Onespan (NASDAQ:OSPN) last issued its earnings results on Thursday, February 26th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $62.92 million for the quarter, compared to analyst estimates of $59.78 million. Onespan had a net margin of 29.98% and a return on equity of 19.58%. On average, equities research analysts anticipate that Onespan Inc will post 1.11 EPS for the current fiscal year.

Onespan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.13 per share. This is a positive change from Onespan’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 4.9%. Onespan’s dividend payout ratio (DPR) is 25.53%.

Analysts Set New Price Targets

Several research firms have weighed in on OSPN. Wall Street Zen cut Onespan from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Zacks Research lowered Onespan from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. DA Davidson lowered their price target on Onespan from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Onespan in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.67.

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.