Federated Hermes Inc. Acquires 274,566 Shares of Clear Secure, Inc. (NYSE:YOU)

Federated Hermes Inc. lifted its stake in Clear Secure, Inc. (NYSE:YOU) by 49.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 830,751 shares of the company’s stock after purchasing an additional 274,566 shares during the quarter. Federated Hermes Inc.’s holdings in Clear Secure were worth $15,543,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Clear Secure by 91.5% during the 2nd quarter. American Century Companies Inc. now owns 52,719 shares of the company’s stock valued at $986,000 after acquiring an additional 25,194 shares during the period. Rice Hall James & Associates LLC lifted its position in Clear Secure by 303.6% during the second quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock worth $22,445,000 after purchasing an additional 902,436 shares during the period. Choreo LLC acquired a new stake in Clear Secure during the second quarter worth about $1,238,000. Quest Partners LLC increased its holdings in Clear Secure by 274.3% in the 2nd quarter. Quest Partners LLC now owns 19,120 shares of the company’s stock valued at $358,000 after buying an additional 14,012 shares during the period. Finally, Gallacher Capital Management LLC acquired a new position in shares of Clear Secure in the 2nd quarter valued at approximately $592,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

Clear Secure Price Performance

Clear Secure stock opened at $31.16 on Tuesday. The business has a 50 day moving average of $25.18 and a 200-day moving average of $20.90. Clear Secure, Inc. has a 1 year low of $15.28 and a 1 year high of $31.51. The company has a market capitalization of $4.51 billion, a P/E ratio of 55.64 and a beta of 1.65.

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

Clear Secure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.28%. The ex-dividend date is Tuesday, September 10th. Clear Secure’s payout ratio is presently 71.43%.

Insider Activity

In related news, Director Alclear Investments Ii, Llc sold 227,021 shares of Clear Secure stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $7,049,002.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Dennis W. Liu sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $25.03, for a total transaction of $37,545.00. Following the completion of the sale, the chief accounting officer now owns 10,211 shares of the company’s stock, valued at $255,581.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alclear Investments Ii, Llc sold 227,021 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $7,049,002.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 501,356 shares of company stock valued at $14,878,679. Company insiders own 37.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on YOU shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Clear Secure in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Clear Secure in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their target price on Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.20.

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.