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

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Martingale Asset Management L P increased its stake in shares of Onespan by 10.8% in the third quarter. Martingale Asset Management L P now owns 136,891 shares of the company’s stock valued at $2,175,000 after buying an additional 13,323 shares during the period. Franklin Resources Inc. boosted its position in Onespan by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 57,561 shares of the company’s stock worth $915,000 after buying an additional 6,187 shares during the period. Russell Investments Group Ltd. grew its holdings in Onespan by 238.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 217,798 shares of the company’s stock worth $3,461,000 after acquiring an additional 153,445 shares during the last quarter. First Trust Advisors LP grew its holdings in Onespan by 25.1% during the 3rd quarter. First Trust Advisors LP now owns 2,141,141 shares of the company’s stock worth $34,023,000 after acquiring an additional 428,983 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Onespan by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,050,308 shares of the company’s stock valued at $16,689,000 after acquiring an additional 37,516 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.

Onespan Price Performance

Shares of OSPN stock opened at $10.55 on Friday. The stock has a market capitalization of $395.31 million, a PE ratio of 5.61, a PEG ratio of 0.97 and a beta of 1.54. The business’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $13.18. Onespan Inc has a one year low of $10.16 and a one year high of $18.13.

Onespan (NASDAQ:OSPN) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $62.92 million during 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%. As a group, research analysts expect that Onespan Inc will post 1.11 earnings per share for the current year.

Onespan Increases Dividend

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

Wall Street Analyst Weigh In

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

Onespan 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.