Clear Secure (NYSE:YOU) Shares Up 6.1% Following Dividend Announcement

Clear Secure, Inc. (NYSE:YOU) was up 6.1% during trading on Friday following a dividend announcement from the company. The stock traded as high as $23.82 and last traded at $23.75. Approximately 780,744 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,580,889 shares. The stock had previously closed at $22.39.

The newly announced dividend which will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th will be given a $0.125 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.12%. Clear Secure’s payout ratio is 58.14%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on YOU shares. Stifel Nicolaus lifted their price target on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $42.00 price target on shares of Clear Secure in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Clear Secure in a research report on Monday, December 16th. Finally, Wedbush reiterated a “neutral” rating and issued a $26.00 price target (up from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Clear Secure has an average rating of “Moderate Buy” and an average price target of $35.20.

Clear Secure Price Performance

The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 27.42 and a beta of 1.38. The firm’s 50-day simple moving average is $25.12 and its 200 day simple moving average is $28.51.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in shares of Clear Secure during the third quarter worth $2,010,000. Foundry Partners LLC grew its stake in shares of Clear Secure by 667.5% during the third quarter. Foundry Partners LLC now owns 213,815 shares of the company’s stock worth $7,086,000 after buying an additional 185,957 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Clear Secure by 402.1% during the third quarter. New York State Teachers Retirement System now owns 38,376 shares of the company’s stock worth $1,272,000 after buying an additional 30,733 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Clear Secure during the third quarter worth $2,401,000. Finally, Meritage Portfolio Management grew its stake in shares of Clear Secure by 108.8% during the third quarter. Meritage Portfolio Management now owns 36,450 shares of the company’s stock worth $1,208,000 after buying an additional 18,994 shares during the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

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.