HighTower Advisors LLC Buys 39,270 Shares of Clear Secure, Inc. (NYSE:YOU)

HighTower Advisors LLC lifted its stake in Clear Secure, Inc. (NYSE:YOU) by 96.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,906 shares of the company’s stock after acquiring an additional 39,270 shares during the period. HighTower Advisors LLC’s holdings in Clear Secure were worth $2,644,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in YOU. FMR LLC boosted its holdings in Clear Secure by 30.6% during the third quarter. FMR LLC now owns 6,598,424 shares of the company’s stock valued at $218,672,000 after acquiring an additional 1,547,692 shares during the period. Renaissance Technologies LLC boosted 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 valued at $55,271,000 after purchasing an additional 1,066,400 shares during the period. Rice Hall James & Associates LLC grew 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 buying an additional 902,436 shares during the last quarter. Marshall Wace LLP grew its holdings in Clear Secure by 278.3% in the 2nd quarter. Marshall Wace LLP now owns 1,099,062 shares of the company’s stock valued at $20,563,000 after buying an additional 808,515 shares during the last quarter. Finally, Millennium Management LLC increased its position in 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 buying an additional 757,528 shares during the period. 73.80% of the stock is owned by institutional investors.

Insider Activity

In other Clear Secure news, Director Alclear Investments Ii, Llc sold 122,579 shares of Clear Secure stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.04, for a total transaction of $3,804,852.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth L. Cornick sold 250,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total transaction of $8,075,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 672,579 shares of company stock worth $21,947,852. Company insiders own 37.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on YOU shares. Wedbush restated a “neutral” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Stifel Nicolaus raised 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, October 28th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a report on Friday, November 8th. Finally, Telsey Advisory Group increased their target price on shares of Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.67.

Clear Secure Price Performance

Shares of YOU stock opened at $26.37 on Friday. Clear Secure, Inc. has a one year low of $16.05 and a one year high of $38.88. The stock has a fifty day moving average price of $30.84 and a 200 day moving average price of $26.38. The stock has a market cap of $3.68 billion, a P/E ratio of 30.66 and a beta of 1.43.

Clear Secure (NYSE:YOU) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $198.40 million for the quarter, compared to the consensus estimate of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. Clear Secure’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share. Equities research analysts anticipate that Clear Secure, Inc. will post 0.98 EPS for the current year.

Clear Secure Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.90%. This is an increase from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 10th. Clear Secure’s payout ratio is presently 58.14%.

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.