Lord Abbett & CO. LLC Invests $20.24 Million in Clear Secure, Inc. (NYSE:YOU)

Lord Abbett & CO. LLC purchased a new stake in shares of Clear Secure, Inc. (NYSE:YOU) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 610,821 shares of the company’s stock, valued at approximately $20,243,000. Lord Abbett & CO. LLC owned approximately 0.44% of Clear Secure at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of YOU. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Clear Secure in the second quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in Clear Secure in the 3rd quarter valued at about $26,000. Future Financial Wealth Managment LLC bought a new position in shares of Clear Secure in the third quarter worth about $33,000. KBC Group NV acquired a new position in shares of Clear Secure during the third quarter worth approximately $90,000. Finally, Plato Investment Management Ltd grew its stake in shares of Clear Secure by 10,535.4% during the second quarter. Plato Investment Management Ltd now owns 5,105 shares of the company’s stock valued at $96,000 after purchasing an additional 5,057 shares during the last quarter. Institutional investors own 73.80% of the company’s stock.

Clear Secure Trading Down 2.3 %

YOU stock opened at $26.37 on Monday. Clear Secure, Inc. has a 1-year low of $16.05 and a 1-year high of $38.88. The firm has a market cap of $3.68 billion, a PE ratio of 30.66 and a beta of 1.43. The business’s 50-day moving average price is $30.84 and its two-hundred day moving average price is $26.51.

Clear Secure (NYSE:YOU) last announced its earnings results on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $194.62 million. During the same quarter last year, the business posted $0.20 earnings per share. The business’s quarterly revenue was up 23.7% on a year-over-year basis. On average, analysts forecast that Clear Secure, Inc. will post 0.98 earnings per share for the current year.

Clear Secure Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.125 per share. 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 1.90%. The ex-dividend date is Tuesday, December 10th. Clear Secure’s dividend payout ratio is currently 58.14%.

Wall Street Analysts Forecast Growth

YOU has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Wedbush reaffirmed a “neutral” rating and set a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Telsey Advisory Group raised their price target on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, 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. One equities 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. According to MarketBeat, Clear Secure currently has an average rating of “Hold” and a consensus target price of $32.67.

Insider Buying and Selling

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $33.04, for a total value of $4,956,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth L. Cornick sold 250,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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. Over the last three months, insiders sold 550,000 shares of company stock worth $18,143,000. 37.85% of the stock is owned by corporate 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.