1,481,104 Shares in CLEAR Secure, Inc. $YOU Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new stake in CLEAR Secure, Inc. (NYSE:YOU) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,481,104 shares of the company’s stock, valued at approximately $82,542,000. CLEAR Secure makes up 1.4% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 8th largest position.

A number of other institutional investors have also bought and sold shares of YOU. Durable Capital Partners LP grew its holdings in CLEAR Secure by 153.1% during the 2nd quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock worth $207,932,000 after acquiring an additional 4,531,161 shares during the period. State Street Corp boosted its position in shares of CLEAR Secure by 1.8% during the 4th quarter. State Street Corp now owns 3,312,235 shares of the company’s stock valued at $116,193,000 after purchasing an additional 59,067 shares in the last quarter. Morgan Stanley boosted its position in shares of CLEAR Secure by 6.0% during the 4th quarter. Morgan Stanley now owns 2,696,837 shares of the company’s stock valued at $94,605,000 after purchasing an additional 152,074 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in CLEAR Secure by 0.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,680,942 shares of the company’s stock worth $129,784,000 after purchasing an additional 8,883 shares during the period. Finally, Wellington Management Group LLP grew its stake in CLEAR Secure by 5.5% during the fourth quarter. Wellington Management Group LLP now owns 2,626,856 shares of the company’s stock worth $92,150,000 after purchasing an additional 137,249 shares during the period. Institutional investors own 73.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded CLEAR Secure from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. The Goldman Sachs Group set a $70.00 target price on shares of CLEAR Secure in a research report on Monday, July 20th. Wells Fargo & Company raised their price target on shares of CLEAR Secure from $33.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $60.00 price target on shares of CLEAR Secure in a research note on Thursday, May 7th. Finally, Zacks Research lowered shares of CLEAR Secure from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.57.

Insider Transactions at CLEAR Secure

In related news, President Michael Z. Barkin sold 11,550 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $56.29, for a total value of $650,149.50. Following the sale, the president owned 22,994 shares in the company, valued at $1,294,332.26. This represents a 33.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Schlegel sold 4,412 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $59.02, for a total transaction of $260,396.24. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,962 shares of company stock valued at $1,360,146 over the last three months. Corporate insiders own 29.70% of the company’s stock.

CLEAR Secure Stock Down 5.8%

NYSE YOU opened at $48.26 on Wednesday. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 32.83 and a beta of 1.06. CLEAR Secure, Inc. has a 52 week low of $29.43 and a 52 week high of $69.07. The business has a 50 day moving average price of $53.89 and a 200-day moving average price of $49.85.

CLEAR Secure (NYSE:YOU) last issued its earnings results on Wednesday, August 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. The company had revenue of $277.76 million for the quarter, compared to analysts’ expectations of $269.71 million. CLEAR Secure had a return on equity of 71.51% and a net margin of 14.78%.CLEAR Secure’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS. On average, equities research analysts anticipate that CLEAR Secure, Inc. will post 1.61 earnings per share for the current year.

CLEAR Secure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. CLEAR Secure’s payout ratio is presently 40.82%.

CLEAR Secure Company Profile

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman?Becker and Ken Cornick, CLEAR is headquartered in New York City.