Kenneth L. Cornick Sells 250,000 Shares of Clear Secure, Inc. (NYSE:YOU) Stock

Clear Secure, Inc. (NYSE:YOU) CFO Kenneth L. Cornick sold 250,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were 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 the SEC website.

Clear Secure Trading Down 0.1 %

Shares of Clear Secure stock opened at $32.85 on Friday. The firm has a market capitalization of $4.76 billion, a PE ratio of 58.66 and a beta of 1.65. The firm’s 50 day moving average is $25.99 and its 200 day moving average is $21.16. Clear Secure, Inc. has a 1 year low of $15.28 and a 1 year high of $33.85.

Clear Secure (NYSE:YOU) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. Clear Secure had a net margin of 10.36% and a return on equity of 35.33%. The company had revenue of $186.75 million during the quarter, compared to the consensus estimate of $183.78 million. During the same period in the prior year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, research analysts anticipate that Clear Secure, Inc. will post 1.01 earnings per share for the current year.

Clear Secure Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Tuesday, September 10th. Clear Secure’s dividend payout ratio (DPR) is currently 71.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in Clear Secure by 56.2% during the 4th quarter. Russell Investments Group Ltd. now owns 10,233 shares of the company’s stock worth $211,000 after acquiring an additional 3,683 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Clear Secure in the fourth quarter worth $255,000. Charles Schwab Investment Management Inc. increased its holdings in Clear Secure by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 654,967 shares of the company’s stock valued at $13,525,000 after purchasing an additional 12,469 shares during the period. Teacher Retirement System of Texas bought a new position in Clear Secure during the 4th quarter worth $212,000. Finally, Corient Private Wealth LLC acquired a new position in Clear Secure during the 4th quarter worth about $1,192,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on YOU. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Clear Secure in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price objective on shares of Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Clear Secure in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.20.

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.