Clear Secure (NYSE:YOU) Given Neutral Rating at Wedbush

Wedbush reiterated their neutral rating on shares of Clear Secure (NYSE:YOU) in a research report released on Thursday,RTT News reports. The brokerage currently has a $26.00 price target on the stock, up from their previous price target of $24.00.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a report on Monday, October 28th. Telsey Advisory Group raised their target price 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. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Clear Secure in a report on Friday, November 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.67.

Clear Secure Stock Down 3.0 %

Shares of YOU traded down $0.87 during midday trading on Thursday, reaching $27.66. The company had a trading volume of 2,424,068 shares, compared to its average volume of 1,739,938. The firm has a 50 day simple moving average of $33.14 and a 200-day simple moving average of $24.70. The stock has a market cap of $3.85 billion, a PE ratio of 35.91 and a beta of 1.63. Clear Secure has a 1-year low of $16.05 and a 1-year high of $38.88.

Clear Secure (NYSE:YOU) last posted its earnings results on Tuesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. Clear Secure had a return on equity of 35.33% and a net margin of 10.36%. The company had revenue of $186.75 million during the quarter, compared to analysts’ expectations of $183.78 million. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Clear Secure will post 1.01 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Tuesday, December 10th. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s payout ratio is currently 51.28%.

Insider Activity

In related news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $27.04, for a total transaction of $202,800.00. Following the sale, the insider now owns 26,727 shares of the company’s stock, valued at approximately $722,698.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $27.04, for a total transaction of $202,800.00. Following the completion of the transaction, the insider now directly owns 26,727 shares in the company, valued at approximately $722,698.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffery H. Boyd sold 150,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $28.14, for a total transaction of $4,221,000.00. Following the completion of the sale, the director now directly owns 27,431 shares in the company, valued at $771,908.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,164,935 shares of company stock valued at $36,623,387 in the last three months. 37.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clear Secure

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Montag A & Associates Inc. purchased a new stake in Clear Secure in the 1st quarter worth approximately $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in Clear Secure during the second quarter worth about $26,000. Capital Performance Advisors LLP purchased a new position in Clear Secure during the third quarter worth about $26,000. Future Financial Wealth Managment LLC acquired a new stake in Clear Secure in the 3rd quarter worth about $33,000. Finally, KBC Group NV purchased a new stake in Clear Secure in the 3rd quarter valued at about $90,000. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

About Clear Secure

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.