Massachusetts Financial Services Co. MA Has $4.20 Million Position in Clear Secure, Inc. (NYSE:YOU)

Massachusetts Financial Services Co. MA lowered its stake in Clear Secure, Inc. (NYSE:YOU) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,751 shares of the company’s stock after selling 3,070 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Clear Secure were worth $4,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of YOU. Vanguard Group Inc. increased its holdings in shares of Clear Secure by 11.7% in the first quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock valued at $224,866,000 after purchasing an additional 1,111,330 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Clear Secure by 56.5% in the second quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock valued at $55,271,000 after purchasing an additional 1,066,400 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Clear Secure by 303.6% in the second quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock valued at $22,445,000 after purchasing an additional 902,436 shares in the last quarter. Marshall Wace LLP grew its holdings in Clear Secure by 278.3% during the 2nd quarter. Marshall Wace LLP now owns 1,099,062 shares of the company’s stock worth $20,563,000 after acquiring an additional 808,515 shares during the period. Finally, Millennium Management LLC grew its holdings in Clear Secure by 56.3% during the 2nd quarter. Millennium Management LLC now owns 2,103,578 shares of the company’s stock worth $39,358,000 after acquiring an additional 757,528 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

Clear Secure Stock Down 1.3 %

NYSE:YOU opened at $26.72 on Wednesday. The company has a market cap of $3.72 billion, a P/E ratio of 31.07 and a beta of 1.63. Clear Secure, Inc. has a twelve month low of $16.05 and a twelve month high of $38.88. The business has a 50 day moving average price of $32.37 and a two-hundred day moving average price of $25.57.

Clear Secure (NYSE:YOU) last released its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. The company had revenue of $198.40 million during the quarter, compared to analyst estimates of $194.62 million. During the same period in the prior year, the firm posted $0.20 EPS. Clear Secure’s revenue was up 23.7% compared to the same quarter last year. As a group, analysts anticipate that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost 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 (DPR) is currently 46.51%.

Insider Activity at Clear Secure

In related news, CAO Dennis W. Liu sold 1,500 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $46,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,211 shares of the company’s stock, valued at approximately $223,901.55. This trade represents a 17.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total transaction of $5,112,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 981,435 shares of company stock valued at $31,457,077. 37.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Clear Secure 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.