Clear Secure, Inc. (NYSE:YOU) CFO Kenneth L. Cornick Sells 250,000 Shares

Clear Secure, Inc. (NYSE:YOU) CFO Kenneth L. Cornick sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total transaction of $8,075,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Clear Secure Stock Performance

Clear Secure stock traded up $0.40 during midday trading on Thursday, reaching $32.87. The stock had a trading volume of 2,305,158 shares, compared to its average volume of 1,597,816. The stock’s 50-day simple moving average is $25.72 and its 200 day simple moving average is $21.08. Clear Secure, Inc. has a twelve month low of $15.28 and a twelve month high of $33.85. The stock has a market capitalization of $4.58 billion, a PE ratio of 58.63 and a beta of 1.65.

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

Clear Secure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, September 10th. Clear Secure’s payout ratio is currently 71.43%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Clear Secure

Several hedge funds and other institutional investors have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new position in Clear Secure in the second quarter valued at about $26,000. Cim LLC acquired a new stake in shares of Clear Secure in the second quarter valued at about $933,000. Truist Financial Corp raised its holdings in shares of Clear Secure by 2.0% during the 2nd quarter. Truist Financial Corp now owns 29,061 shares of the company’s stock valued at $544,000 after buying an additional 582 shares during the period. Quarry LP boosted its holdings in Clear Secure by 406.1% in the 2nd quarter. Quarry LP now owns 5,719 shares of the company’s stock worth $107,000 after acquiring an additional 4,589 shares during the period. Finally, Algert Global LLC grew its position in Clear Secure by 143.3% in the second quarter. Algert Global LLC now owns 273,967 shares of the company’s stock valued at $5,126,000 after acquiring an additional 161,378 shares in the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

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.