Foundry Partners LLC Grows Stock Position in Clear Secure, Inc. (NYSE:YOU)

Foundry Partners LLC grew its stake in Clear Secure, Inc. (NYSE:YOU) by 667.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 213,815 shares of the company’s stock after buying an additional 185,957 shares during the quarter. Foundry Partners LLC owned 0.15% of Clear Secure worth $7,086,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Intech Investment Management LLC acquired a new position in Clear Secure in the third quarter valued at approximately $688,000. Thrivent Financial for Lutherans acquired a new position in shares of Clear Secure in the 3rd quarter valued at $2,401,000. Chesapeake Capital Corp IL purchased a new stake in Clear Secure during the third quarter worth $528,000. Mutual of America Capital Management LLC acquired a new stake in Clear Secure during the third quarter valued at $460,000. Finally, Empowered Funds LLC increased its holdings in Clear Secure by 3.3% in the third quarter. Empowered Funds LLC now owns 66,327 shares of the company’s stock valued at $2,198,000 after buying an additional 2,125 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on YOU shares. 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 research note on Friday, November 1st. The Goldman Sachs Group increased their price target on 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 objective on shares of Clear Secure in a research report on Friday, November 8th. Stifel Nicolaus upped their target price on Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Wedbush reissued a “neutral” rating and issued a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.67.

Insiders Place Their Bets

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total transaction of $5,112,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Z. Barkin sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 7,056 shares of the company’s stock, valued at $202,083.84. This represents a 77.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,006,435 shares of company stock valued at $32,173,077 in the last ninety days. 37.85% of the stock is currently owned by corporate insiders.

Clear Secure Price Performance

Shares of NYSE:YOU opened at $26.78 on Thursday. Clear Secure, Inc. has a 1 year low of $16.05 and a 1 year high of $38.88. The firm has a market capitalization of $3.73 billion, a PE ratio of 31.14 and a beta of 1.63. The business’s 50 day moving average price is $32.61 and its 200-day moving average price is $25.33.

Clear Secure (NYSE:YOU) last announced its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). The business had revenue of $198.40 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. As a group, analysts expect that Clear Secure, Inc. will post 0.98 earnings per share 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 dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s dividend payout ratio is currently 46.51%.

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.