CLEAR Secure, Inc. $YOU Shares Newly Bought by Congress Asset Management Co.

by · The Markets Daily

Congress Asset Management Co. acquired a new position in CLEAR Secure, Inc. (NYSE:YOU – Free Report) during the 3rd quarter, HoldingsChannel reports. The fund acquired 1,879,457 shares of the company’s stock, valued at approximately $78,843,000.

Other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of CLEAR Secure by 0.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,680,942 shares of the company’s stock worth $129,784,000 after acquiring an additional 8,883 shares during the last quarter. Geode Capital Management LLC raised its stake in CLEAR Secure by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,453,137 shares of the company’s stock valued at $86,069,000 after purchasing an additional 20,419 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in CLEAR Secure by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,711,291 shares of the company’s stock valued at $82,848,000 after purchasing an additional 40,880 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in CLEAR Secure in the 2nd quarter valued at $82,542,000. Finally, Bank of New York Mellon Corp acquired a new stake in CLEAR Secure during the 2nd quarter worth $47,722,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kyle McLaughlin sold 4,499 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $44.47, for a total transaction of $200,070.53. Following the completion of the transaction, the executive vice president directly owned 29,519 shares in the company, valued at approximately $1,312,709.93. This represents a 13.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Z. Barkin sold 11,444 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $45.00, for a total value of $514,980.00. Following the sale, the president directly owned 11,550 shares of the company’s stock, valued at $519,750. The trade was a 49.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,047 shares of company stock valued at $808,615 over the last quarter. 29.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of CLEAR Secure in a report on Monday, August 24th. They set an “overweight” rating and a $55.00 target price for the company. Wall Street Zen cut shares of CLEAR Secure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. DA Davidson cut their price objective on shares of CLEAR Secure from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, September 11th. The Goldman Sachs Group set a $70.00 target price on shares of CLEAR Secure in a research note on Monday, July 20th. Finally, Zacks Research lowered CLEAR Secure from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CLEAR Secure has a consensus rating of “Hold” and an average price target of $58.29.

View Our Latest Stock Analysis on YOU

CLEAR Secure Price Performance

Shares of YOU traded up $0.25 during mid-day trading on Tuesday, reaching $41.50. The stock had a trading volume of 1,356,740 shares, compared to its average volume of 1,676,529. CLEAR Secure, Inc. has a 52-week low of $29.43 and a 52-week high of $69.07. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 28.23 and a beta of 1.01. The business’s fifty day moving average is $45.07 and its 200 day moving average is $50.97.

CLEAR Secure (NYSE:YOU – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. CLEAR Secure had a net margin of 14.78% and a return on equity of 71.51%. The company had revenue of $277.76 million for the quarter, compared to the consensus estimate of $269.71 million. During the same period in the previous year, the firm earned $0.26 earnings per share. CLEAR Secure’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CLEAR Secure, Inc. will post 1.88 EPS for the current fiscal year.

CLEAR Secure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.60 annualized dividend and a yield of 1.4%. CLEAR Secure’s dividend payout ratio (DPR) is 40.82%.

CLEAR Secure Profile

(Free Report)

CLEAR Secure, Inc (NYSE: YOU) operates a secure identity platform designed to help people verify who they are and move through airports, venues and other locations more efficiently. Its technology uses biometric authentication, including facial and fingerprint recognition, alongside identity verification to provide secure, convenient access.

The company’s primary consumer offering is CLEAR+, a membership service that allows enrolled members to use dedicated lanes at participating airports for identity verification before proceeding to security screening.

See Also

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