Oppenheimer & Co. Inc. Invests $948,000 in Clear Secure, Inc. (NYSE:YOU)

Oppenheimer & Co. Inc. purchased a new stake in Clear Secure, Inc. (NYSE:YOU) in the third quarter, HoldingsChannel reports. The institutional investor purchased 28,599 shares of the company’s stock, valued at approximately $948,000.

Several other large investors also recently bought and sold shares of YOU. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Clear Secure during the second quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in Clear Secure during the 3rd quarter worth $26,000. Future Financial Wealth Managment LLC acquired a new position in Clear Secure in the third quarter valued at $33,000. Plato Investment Management Ltd raised its holdings in shares of Clear Secure by 10,535.4% in the second quarter. Plato Investment Management Ltd now owns 5,105 shares of the company’s stock valued at $96,000 after buying an additional 5,057 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Clear Secure in the third quarter valued at about $105,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Clear Secure Stock Performance

Clear Secure stock opened at $26.36 on Wednesday. Clear Secure, Inc. has a one year low of $16.05 and a one year high of $38.88. The company has a market cap of $3.67 billion, a P/E ratio of 30.65 and a beta of 1.63. The business has a fifty day moving average of $32.66 and a two-hundred day moving average of $25.32.

Clear Secure (NYSE:YOU) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The company had revenue of $198.40 million for the quarter, compared to analysts’ expectations of $194.62 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. Sell-side analysts predict that Clear Secure, Inc. will post 1.01 EPS for the current year.

Clear Secure Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, December 10th. This is an increase from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s dividend payout ratio is 58.14%.

Insider Activity

In other news, Director Michael Z. Barkin sold 25,000 shares of Clear Secure stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $28.64, for a total transaction of $716,000.00. Following the completion of the sale, the director now directly owns 7,056 shares in the company, valued at $202,083.84. The trade was a 77.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kenneth L. Cornick sold 79,935 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.04, for a total transaction of $2,401,247.40. The disclosure for this sale can be found here. Insiders have sold 1,006,435 shares of company stock worth $32,173,077 over the last ninety days. 37.85% of the stock is currently owned by insiders.

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.