Allspring Global Investments Holdings LLC Sells 1,322 Shares of Clear Secure, Inc. (NYSE:YOU)

Allspring Global Investments Holdings LLC cut its holdings in shares of Clear Secure, Inc. (NYSE:YOU) by 6.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,818 shares of the company’s stock after selling 1,322 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Clear Secure were worth $590,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in YOU. Principal Financial Group Inc. acquired a new position in Clear Secure in the 1st quarter valued at about $238,000. Janney Montgomery Scott LLC increased its position in Clear Secure by 184.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,071,486 shares of the company’s stock valued at $22,791,000 after acquiring an additional 695,418 shares during the period. Capstone Investment Advisors LLC increased its position in Clear Secure by 167.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 112,793 shares of the company’s stock valued at $2,399,000 after acquiring an additional 70,597 shares during the period. Nordea Investment Management AB increased its position in shares of Clear Secure by 425.7% during the first quarter. Nordea Investment Management AB now owns 239,440 shares of the company’s stock worth $5,129,000 after buying an additional 193,889 shares during the period. Finally, Quantbot Technologies LP increased its position in shares of Clear Secure by 302.8% during the first quarter. Quantbot Technologies LP now owns 33,159 shares of the company’s stock worth $705,000 after buying an additional 24,926 shares during the period. 73.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on YOU shares. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a research report on Friday. Telsey Advisory Group increased their price target on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus boosted their target price on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group raised their target price on Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Clear Secure has an average rating of “Hold” and a consensus price target of $31.83.

Clear Secure Stock Up 0.2 %

NYSE YOU opened at $36.84 on Friday. The stock’s 50 day moving average is $32.71 and its 200 day moving average is $24.25. Clear Secure, Inc. has a twelve month low of $16.05 and a twelve month high of $38.04. The firm has a market capitalization of $5.13 billion, a PE ratio of 47.23 and a beta of 1.65.

Clear Secure (NYSE:YOU) last posted its quarterly earnings data 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 for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. On average, research analysts anticipate that Clear Secure, Inc. will post 1.01 earnings per share for the current year.

Clear Secure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a yield of 1.36%. Clear Secure’s dividend payout ratio is presently 51.28%.

Insider Activity

In other news, CFO Kenneth L. Cornick sold 250,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total value of $8,075,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Kenneth L. Cornick sold 250,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total value of $8,075,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alclear Investments Ii, Llc sold 227,021 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 1,173,935 shares of company stock valued at $36,826,532 in the last ninety days. Insiders own 37.85% of the company’s stock.

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.