Renaissance Technologies LLC Has $55.27 Million Stake in Clear Secure, Inc. (NYSE:YOU)

Renaissance Technologies LLC raised its holdings in Clear Secure, Inc. (NYSE:YOU) by 56.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,954,100 shares of the company’s stock after purchasing an additional 1,066,400 shares during the period. Renaissance Technologies LLC’s holdings in Clear Secure were worth $55,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Clear Secure by 39.8% in the second quarter. Dimensional Fund Advisors LP now owns 380,728 shares of the company’s stock valued at $7,123,000 after buying an additional 108,405 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of Clear Secure during the 2nd quarter valued at $2,429,000. Plato Investment Management Ltd lifted its position in shares of Clear Secure by 10,535.4% during the 2nd quarter. Plato Investment Management Ltd now owns 5,105 shares of the company’s stock valued at $96,000 after acquiring an additional 5,057 shares during the period. Oak Associates Ltd. OH grew its holdings in shares of Clear Secure by 2.2% during the 2nd quarter. Oak Associates Ltd. OH now owns 66,448 shares of the company’s stock worth $1,243,000 after purchasing an additional 1,455 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Clear Secure by 49.4% in the second quarter. Federated Hermes Inc. now owns 830,751 shares of the company’s stock worth $15,543,000 after purchasing an additional 274,566 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

Clear Secure Trading Up 4.6 %

YOU stock opened at $32.60 on Wednesday. The firm has a 50-day moving average price of $25.46 and a 200-day moving average price of $21.00. Clear Secure, Inc. has a 12 month low of $15.28 and a 12 month high of $32.67. The stock has a market capitalization of $4.54 billion, a P/E ratio of 58.21 and a beta of 1.65.

Clear Secure (NYSE:YOU) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. The business had revenue of $186.75 million during the quarter, compared to the consensus estimate of $183.78 million. Clear Secure had a net margin of 10.36% and a return on equity of 35.33%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, equities analysts predict that Clear Secure, Inc. will post 1.01 EPS for the current fiscal year.

Clear Secure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 10th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. Clear Secure’s dividend payout ratio is currently 71.43%.

Analyst Ratings Changes

Several research firms recently weighed in on YOU. The Goldman Sachs Group upped their price objective on shares of Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Clear Secure in a report on Wednesday, August 7th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $34.00 price objective on shares of Clear Secure in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.20.

Insiders Place Their Bets

In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $22.08, for a total transaction of $165,600.00. Following the sale, the insider now directly owns 34,227 shares in the company, valued at $755,732.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Richard N. Jr. Patterson sold 7,500 shares of Clear Secure stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $22.08, for a total transaction of $165,600.00. Following the transaction, the insider now owns 34,227 shares in the company, valued at $755,732.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Dennis W. Liu sold 1,500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $46,575.00. Following the completion of the sale, the chief accounting officer now directly owns 7,211 shares in the company, valued at approximately $223,901.55. The disclosure for this sale can be found here. Insiders sold a total of 501,356 shares of company stock valued at $14,878,679 in the last 90 days. Corporate insiders own 37.85% of the company’s stock.

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.