Millennium Management LLC Purchases 757,528 Shares of Clear Secure, Inc. (NYSE:YOU)

Millennium Management LLC boosted its position in Clear Secure, Inc. (NYSE:YOU) by 56.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,103,578 shares of the company’s stock after purchasing an additional 757,528 shares during the quarter. Millennium Management LLC owned approximately 1.45% of Clear Secure worth $39,358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hsbc Holdings PLC increased its position in Clear Secure by 0.5% during the 2nd quarter. Hsbc Holdings PLC now owns 78,968 shares of the company’s stock valued at $1,467,000 after buying an additional 409 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Clear Secure by 6.1% in the 2nd quarter. Principal Financial Group Inc. now owns 11,859 shares of the company’s stock worth $222,000 after purchasing an additional 681 shares during the last quarter. Brown Lisle Cummings Inc. raised its position in shares of Clear Secure by 11.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,800 shares of the company’s stock worth $165,000 after purchasing an additional 900 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Clear Secure by 5.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 19,988 shares of the company’s stock valued at $374,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Quarry LP grew its position in Clear Secure by 86.4% during the 4th quarter. Quarry LP now owns 2,509 shares of the company’s stock valued at $52,000 after purchasing an additional 1,163 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alclear Investments Ii, Llc sold 227,021 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $7,049,002.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kenneth L. Cornick sold 250,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total transaction of $8,075,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alclear Investments Ii, Llc sold 227,021 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $7,049,002.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,023,935 shares of company stock worth $31,714,532. Corporate insiders own 37.85% of the company’s stock.

Clear Secure Price Performance

Shares of YOU stock opened at $31.72 on Wednesday. Clear Secure, Inc. has a 1 year low of $15.28 and a 1 year high of $33.85. The firm has a fifty day moving average price of $27.97 and a 200-day moving average price of $21.90. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 56.64 and a beta of 1.65.

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

Clear Secure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, September 10th. Clear Secure’s dividend payout ratio is currently 71.43%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on YOU. Telsey Advisory Group restated an “outperform” rating and issued a $34.00 price objective on shares of Clear Secure in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, 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. 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 data from MarketBeat, Clear Secure currently has a consensus rating of “Hold” and an average target price of $29.20.

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.