Pallas Capital Advisors LLC Purchases New Shares in Clear Secure, Inc. (NYSE:YOU)

Pallas Capital Advisors LLC acquired a new position in Clear Secure, Inc. (NYSE:YOU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,845 shares of the company’s stock, valued at approximately $283,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Clear Secure by 11.7% during the first 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 during the period. Renaissance Technologies LLC increased its stake in Clear Secure by 56.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock worth $55,271,000 after acquiring an additional 1,066,400 shares during the period. Rice Hall James & Associates LLC raised its holdings in 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 valued at $22,445,000 after acquiring an additional 902,436 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Clear Secure by 278.3% during the 2nd quarter. Marshall Wace LLP now owns 1,099,062 shares of the company’s stock valued at $20,563,000 after acquiring an additional 808,515 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Clear Secure by 56.3% during 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. Institutional investors own 73.80% of the company’s stock.

Clear Secure Price Performance

Shares of NYSE:YOU opened at $36.75 on Friday. Clear Secure, Inc. has a one year low of $16.05 and a one year high of $38.04. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 47.11 and a beta of 1.65. The firm has a 50 day simple moving average of $32.54 and a 200 day simple moving average of $24.13.

Clear Secure (NYSE:YOU) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The company had revenue of $186.75 million during 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%. Clear Secure’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. As a group, analysts expect that Clear Secure, Inc. will post 1.01 EPS for the current year.

Insider Transactions at Clear Secure

In related news, insider Richard N. Jr. Patterson sold 7,500 shares of Clear Secure stock in a transaction that occurred 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 sale, the insider now directly owns 34,227 shares in the company, valued at $755,732.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Dennis W. Liu sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 10,211 shares in the company, valued at $255,581.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard N. Jr. Patterson sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $22.08, for a total value of $165,600.00. Following the completion of the sale, the insider now owns 34,227 shares in the company, valued at $755,732.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,173,935 shares of company stock worth $36,826,532. Insiders own 37.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. 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. Stifel Nicolaus increased their price target on shares of Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday. Needham & Company LLC boosted their price objective on shares of Clear Secure from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clear Secure has an average rating of “Hold” and a consensus price target of $30.50.

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.