OneSpan (NASDAQ:OSPN) Stock Price Down 6.1% - Here's What Happened

OneSpan Inc. (NASDAQ:OSPN - Get Free Report)'s stock price traded down 6.1% during trading on Wednesday . The stock traded as low as $18.61 and last traded at $18.59. 133,095 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 371,024 shares. The stock had previously closed at $19.80.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OSPN shares. Sidoti raised shares of OneSpan from a "neutral" rating to a "buy" rating and increased their price objective for the company from $14.00 to $19.00 in a research report on Thursday, October 31st. StockNews.com raised shares of OneSpan from a "buy" rating to a "strong-buy" rating in a report on Monday, November 4th. Finally, Rosenblatt Securities boosted their price objective on OneSpan from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, December 16th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, OneSpan has an average rating of "Buy" and an average target price of $17.63.

OneSpan Price Performance

The stock's 50-day moving average price is $18.97 and its 200-day moving average price is $17.19. The company has a market cap of $652.67 million, a P/E ratio of 23.22 and a beta of 0.77.

OneSpan Dividend Announcement

The firm also recently announced a -- dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.12 per share. The ex-dividend date was Friday, January 31st. OneSpan's payout ratio is presently 64.86%.

Insider Activity

In related news, Director Michael J. Mcconnell sold 53,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.51, for a total transaction of $981,030.00. Following the sale, the director now owns 20,849 shares of the company's stock, valued at $385,914.99. This represents a 71.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On OneSpan

A number of institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new position in shares of OneSpan in the fourth quarter worth about $37,000. New York State Teachers Retirement System acquired a new stake in OneSpan in the fourth quarter valued at approximately $64,000. Covestor Ltd bought a new stake in shares of OneSpan during the third quarter worth $65,000. Steward Partners Investment Advisory LLC bought a new stake in shares of OneSpan during the fourth quarter worth $109,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of OneSpan in the 4th quarter valued at $147,000. Institutional investors and hedge funds own 95.52% of the company's stock.

About OneSpan

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.