Everence Capital Management Inc. Makes New Investment in Clear Secure, Inc. (NYSE:YOU)

Everence Capital Management Inc. bought a new position in shares of Clear Secure, Inc. (NYSE:YOU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,020 shares of the company’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Clear Secure by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock worth $224,866,000 after purchasing an additional 1,111,330 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Clear Secure by 56.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock worth $55,271,000 after purchasing an additional 1,066,400 shares in the last quarter. Millennium Management LLC boosted its position in shares of Clear Secure by 56.3% in the 2nd quarter. Millennium Management LLC now owns 2,103,578 shares of the company’s stock worth $39,358,000 after purchasing an additional 757,528 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Clear Secure by 303.6% in the 2nd 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 in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Clear Secure by 278.3% in the 2nd quarter. Marshall Wace LLP now owns 1,099,062 shares of the company’s stock worth $20,563,000 after purchasing an additional 808,515 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Clear Secure Price Performance

NYSE YOU opened at $36.57 on Tuesday. The business’s fifty day moving average price is $31.18 and its 200-day moving average price is $23.25. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 46.88 and a beta of 1.65. Clear Secure, Inc. has a 1-year low of $16.05 and a 1-year high of $37.90.

Clear Secure (NYSE:YOU) last released its quarterly earnings results 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 firm had revenue of $186.75 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.05 EPS. Equities research analysts anticipate that Clear Secure, Inc. will post 1.01 EPS for the current year.

Clear Secure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 10th were paid a $0.10 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. Clear Secure’s dividend payout ratio (DPR) is 51.28%.

Insiders Place Their Bets

In other Clear Secure news, Director Alclear Investments Ii, Llc sold 227,021 shares of the stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Alclear Investments Ii, Llc sold 227,021 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was 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 accessible through this hyperlink. Also, CFO Kenneth L. Cornick sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total value of $8,075,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,173,935 shares of company stock worth $36,826,532. Corporate insiders own 37.85% of the company’s stock.

Wall Street Analysts Forecast Growth

YOU has been the topic of a number of analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $34.00 price target on shares of Clear Secure in a research report on Wednesday, August 7th. Needham & Company LLC boosted their price target on Clear Secure from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group upped 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $30.20.

Clear Secure 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.