Quantbot Technologies LP Sells 22,575 Shares of Clear Secure, Inc. (NYSE:YOU)

Quantbot Technologies LP lowered its stake in shares of Clear Secure, Inc. (NYSE:YOU) by 66.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,492 shares of the company’s stock after selling 22,575 shares during the quarter. Quantbot Technologies LP’s holdings in Clear Secure were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in YOU. Janus Henderson Group PLC grew its stake in shares of Clear Secure by 232.1% during the first quarter. Janus Henderson Group PLC now owns 115,282 shares of the company’s stock valued at $2,452,000 after purchasing an additional 80,569 shares during the last quarter. Foundry Partners LLC lifted its holdings in Clear Secure by 667.5% during the 3rd 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 in the last quarter. New York State Teachers Retirement System increased its stake in shares of Clear Secure by 402.1% in the 3rd quarter. New York State Teachers Retirement System now owns 38,376 shares of the company’s stock valued at $1,272,000 after buying an additional 30,733 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in shares of Clear Secure in the 2nd quarter valued at $840,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Clear Secure during the third quarter worth $2,010,000. Institutional investors own 73.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Clear Secure Stock Up 0.4 %

Shares of Clear Secure stock opened at $25.88 on Wednesday. Clear Secure, Inc. has a 12-month low of $16.05 and a 12-month high of $38.88. The business’s 50 day moving average is $31.71 and its 200-day moving average is $25.87. The stock has a market cap of $3.61 billion, a P/E ratio of 30.09 and a beta of 1.43.

Clear Secure (NYSE:YOU) last announced 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 firm had revenue of $198.40 million during the quarter, compared to analyst estimates of $194.62 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 EPS. On average, sell-side analysts expect that Clear Secure, Inc. will post 0.98 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. Shareholders of record on Tuesday, December 10th will be paid a $0.125 dividend. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 10th. This represents a $0.50 annualized dividend and a yield of 1.93%. Clear Secure’s dividend payout ratio is currently 46.51%.

Insider Activity

In other Clear Secure 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 transaction of $8,075,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Dennis W. Liu sold 1,500 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $46,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,211 shares in the company, valued at $223,901.55. The trade was a 17.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 901,500 shares of company stock valued at $29,055,829 over the last three months. Insiders own 37.85% of the company’s stock.

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.