Clear Secure, Inc. (NYSE:YOU) Shares Sold by Algert Global LLC

Algert Global LLC lowered its stake in Clear Secure, Inc. (NYSE:YOU) by 75.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,699 shares of the company’s stock after selling 206,268 shares during the period. Algert Global LLC’s holdings in Clear Secure were worth $2,244,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Clear Secure by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock valued at $224,866,000 after buying an additional 1,111,330 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Clear Secure by 47.5% in the first quarter. Lazard Asset Management LLC now owns 15,484 shares of the company’s stock valued at $328,000 after acquiring an additional 4,988 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Clear Secure by 15.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 52,195 shares of the company’s stock worth $1,111,000 after acquiring an additional 7,042 shares during the period. Janus Henderson Group PLC increased its stake in shares of Clear Secure by 232.1% during the first quarter. Janus Henderson Group PLC now owns 115,282 shares of the company’s stock worth $2,452,000 after acquiring an additional 80,569 shares during the period. Finally, First Hawaiian Bank purchased a new position in Clear Secure during the second quarter worth about $381,000. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Clear Secure Stock Performance

YOU opened at $26.72 on Wednesday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 31.07 and a beta of 1.63. Clear Secure, Inc. has a one year low of $16.05 and a one year high of $38.88. The business’s fifty day moving average is $32.37 and its two-hundred day moving average is $25.57.

Clear Secure (NYSE:YOU) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.03). The business had revenue of $198.40 million during the quarter, compared to analysts’ expectations of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. Clear Secure’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. On average, analysts predict that Clear Secure, Inc. will post 0.98 EPS for the current fiscal year.

Clear Secure Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 10th will be given a $0.125 dividend. The ex-dividend date is Tuesday, December 10th. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a dividend yield of 1.87%. Clear Secure’s dividend payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Stifel Nicolaus lifted their price target on Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Wedbush reiterated a “neutral” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Clear Secure in a research report on Friday, November 8th. Finally, Telsey Advisory Group increased their price target on shares of Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.67.

Insider Transactions at Clear Secure

In related news, CAO Dennis W. Liu sold 1,500 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $46,575.00. Following the sale, the chief accounting officer now owns 7,211 shares of the company’s stock, valued at $223,901.55. This trade represents a 17.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth L. Cornick sold 250,000 shares of Clear Secure stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total value of $8,075,000.00. The disclosure for this sale can be found here. Insiders sold a total of 981,435 shares of company stock valued at $31,457,077 in the last ninety days. Corporate insiders own 37.85% of the company’s stock.

Clear Secure Company Profile

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.