Victory Capital Management Inc. Lowers Position in Clear Secure, Inc. (NYSE:YOU)

Victory Capital Management Inc. lessened its stake in Clear Secure, Inc. (NYSE:YOU) by 49.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 447,644 shares of the company’s stock after selling 437,681 shares during the quarter. Victory Capital Management Inc.’s holdings in Clear Secure were worth $14,835,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Clear Secure by 232.1% in the first quarter. Janus Henderson Group PLC now owns 115,282 shares of the company’s stock worth $2,452,000 after buying an additional 80,569 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Clear Secure in the second quarter worth $840,000. New York State Teachers Retirement System increased its position in Clear Secure by 402.1% in the third quarter. New York State Teachers Retirement System now owns 38,376 shares of the company’s stock worth $1,272,000 after purchasing an additional 30,733 shares during the last quarter. AQR Capital Management LLC increased its position in Clear Secure by 68.8% in the second quarter. AQR Capital Management LLC now owns 453,262 shares of the company’s stock worth $8,481,000 after purchasing an additional 184,795 shares during the last quarter. Finally, Meritage Portfolio Management increased its position in Clear Secure by 108.8% in the third quarter. Meritage Portfolio Management now owns 36,450 shares of the company’s stock worth $1,208,000 after purchasing an additional 18,994 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group boosted their price target on shares of Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price target 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. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Clear Secure in a research report on Friday, November 8th. Wedbush restated a “neutral” rating and issued a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Finally, Stifel Nicolaus boosted 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.67.

Clear Secure Stock Up 2.4 %

YOU stock opened at $26.36 on Wednesday. Clear Secure, Inc. has a twelve month low of $16.05 and a twelve month high of $38.88. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 30.65 and a beta of 1.63. The firm’s fifty day simple moving average is $32.66 and its two-hundred day simple moving average is $25.32.

Clear Secure (NYSE:YOU) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The company had revenue of $198.40 million during 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%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. As a group, equities research analysts expect that Clear Secure, Inc. will post 1.01 EPS for the current year.

Clear Secure Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be paid a $0.125 dividend. 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 1.90%. Clear Secure’s dividend payout ratio is 58.14%.

Insider Buying and Selling

In other Clear Secure news, CFO Kenneth L. Cornick sold 250,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total transaction of $8,075,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Z. Barkin sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $28.64, for a total transaction of $716,000.00. Following the completion of the transaction, the director now directly owns 7,056 shares of the company’s stock, valued at $202,083.84. The trade was a 77.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,006,435 shares of company stock valued at $32,173,077 over the last three months. 37.85% of the stock is owned by company insiders.

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.