Citigroup Inc., a well-known institutional investor, has recently reduced its holdings in tech company OneSpan Inc. by 7.7%. According to the Form 13F filing with the Securities & Exchange Commission, Citigroup now owns 118,894 shares of OneSpan’s stock after selling 9,885 shares during the first quarter of this year. These holdings amount to approximately 0.30% of OneSpan’s total worth, which is estimated to be $2,081,000 as of the most recent SEC filing.
OneSpan (NASDAQ:OSPN) released its quarterly earnings results on Wednesday, August 9th. The report showed that the company had an EPS (earnings per share) of ($0.27) for the quarter, missing the consensus estimate of ($0.17) by a margin of ($0.10). Additionally, OneSpan generated $55.73 million in revenue during this period.
It is worth noting that OneSpan also experienced a negative net margin of 16.03% and a negative return on equity of 10.43%. This indicates a challenging financial situation for the company in terms of profitability and its ability to generate returns for shareholders.
As for future expectations, sell-side analysts predict that OneSpan Inc. will post -0.61 earnings per share for the current year.
These developments raise concerns about OneSpan’s performance and financial health in the eyes of investors and analysts alike.
The decrease in holdings by Citigroup suggests a lack of confidence in OneSpan’s prospects or potential risks associated with investing in the company at this time.
Investors and market watchers may want to keep an eye on OneSpan’s upcoming announcements and financial reports to gain further insights into its overall trajectory and potential long-term viability as an investment opportunity.
However, it is important to note that any investment decisions should be made based on thorough research and careful consideration of one’s own financial goals and risk tolerance.
Hedge Funds and Institutional Investors Make Significant Changes to Holdings of OneSpan Inc.
September 7, 2023
OneSpan Inc. Holdings Undergo Modifications by Hedge Funds and Other Institutional Investors
In recent developments, several hedge funds and institutional investors have made significant modifications to their holdings of OneSpan Inc., a leading provider of digital identity and anti-fraud solutions. Altshuler Shaham Ltd acquired a new position in the company’s shares during the first quarter with a value of $30,000. Similarly, PNC Financial Services Group Inc. increased its stake in OneSpan by 267.7% in the fourth quarter, resulting in ownership of 2,732 shares worth $31,000.
Tower Research Capital LLC TRC also saw substantial growth in its stake in OneSpan during the third quarter, with the total worth amounting to $43,000 after acquiring an additional 3,251 shares. Point72 Middle East FZE entered into the market during the fourth quarter through the purchase of new shares valued at $45,000. Additionally, Register Financial Advisors LLC witnessed an increase of 200% in its stake in OneSpan during the first quarter and currently owns 3,000 shares worth $52,000.
It is noteworthy that hedge funds and other institutional investors now collectively own approximately 86.78% of OneSpan Inc.’s stock.
As of Thursday’s trading session on September 7th, OneSpan stock opened at $11.71 per share. The market capitalization for the company stands at $468.17 million, with a price-to-earnings ratio of -12.87 and a beta value of 0.88 indicating moderate volatility compared to the overall market.
OneSpan Inc.’s stock has experienced fluctuations over the past year, with its lowest point recorded at $8.15 and highest at $19.25; showcasing both bearish and bullish trends respectively. Currently, the fifty-day moving average price for OneSpan stands at $13.05, while the two-hundred-day moving average price is at $14.95.
In recent news, OneSpan’s Director, Marc Zenner, made a significant purchase of 5,000 shares on Monday, August 14th. At an average cost of $11.47 per share, the total value of these shares amounted to $57,350. Following this transaction, Zenner now holds 42,836 shares in the company with an approximate value of $491,328.92.
It is important to note that this transaction was publicly disclosed through a legal filing with the Securities & Exchange Commission (SEC) and can be accessed on their official website. Approximately 0.78% of OneSpan Inc.’s stock is currently under the ownership of company insiders.
Various research reports have been published discussing OneSpan Inc.’s performance as well. TheStreet downgraded their rating for OneSpan from a “c-” to a “d+” in a research note issued on Friday, May 12th. Furthermore, StockNews.com initiated coverage on OneSpan with a “hold” rating on Thursday, August 17th. Finally, DA Davidson downgraded the stock from a “buy” to a “neutral” rating and adjusted their target price from $19.00 to $12.00 in a research report released on Thursday, August 10th.
These developments reflect the growing interest and evaluations surrounding OneSpan Inc., its market performance, and investment opportunities presented by hedge funds and institutional investors.
Disclaimer: The content provided above is based solely on publicly available information and should not be considered as financial advice or an endorsement of any investment decisions
Source: beststocks.com
