State Street Corp Purchases 1,312,419 Shares of Clear Secure, Inc. (NYSE:YOU)

State Street Corp lifted its position in shares of Clear Secure, Inc. (NYSE:YOU) by 64.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,360,945 shares of the company’s stock after acquiring an additional 1,312,419 shares during the quarter. State Street Corp owned approximately 2.41% of Clear Secure worth $111,381,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Clear Secure in the second quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of Clear Secure in the 3rd quarter valued at about $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Clear Secure during the 3rd quarter worth approximately $33,000. KBC Group NV bought a new stake in shares of Clear Secure during the third quarter worth approximately $90,000. Finally, Plato Investment Management Ltd lifted its holdings in Clear Secure by 10,535.4% in the second quarter. Plato Investment Management Ltd now owns 5,105 shares of the company’s stock valued at $96,000 after buying an additional 5,057 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

Clear Secure Stock Down 2.3 %

Shares of NYSE:YOU opened at $26.37 on Monday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 30.66 and a beta of 1.43. Clear Secure, Inc. has a 12 month low of $16.05 and a 12 month high of $38.88. The company’s fifty day simple moving average is $30.84 and its 200 day simple moving average is $26.51.

Clear Secure (NYSE:YOU) last released its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The firm 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 for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Research analysts expect that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, December 10th. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s dividend payout ratio (DPR) is currently 58.14%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on YOU shares. Telsey Advisory Group lifted 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. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a research note on Friday, November 8th. Stifel Nicolaus boosted their target price on Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clear Secure presently has an average rating of “Hold” and a consensus price target of $32.67.

Insider Buying and Selling at Clear Secure

In related news, CFO Kenneth L. Cornick sold 250,000 shares of Clear Secure stock in a transaction dated 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 filing with the SEC, which is available at this link. Also, Director Alclear Investments Ii, Llc sold 150,000 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $34.08, for a total value of $5,112,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 550,000 shares of company stock worth $18,143,000. Corporate insiders own 37.85% of the company’s stock.

Clear Secure Company 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.