Kenneth L. Cornick Sells 315,591 Shares of Clear Secure, Inc. (NYSE:YOU) Stock

Clear Secure, Inc. (NYSE:YOU) Director Kenneth L. Cornick sold 315,591 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $25.02, for a total transaction of $7,896,086.82. Following the sale, the director now directly owns 64,935 shares in the company, valued at $1,624,673.70. This trade represents a 82.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Clear Secure Stock Down 0.2%

YOU opened at $24.60 on Friday. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 28.61 and a beta of 1.25. Clear Secure, Inc. has a 52-week low of $16.48 and a 52-week high of $38.88. The firm’s fifty day simple moving average is $25.69 and its two-hundred day simple moving average is $25.96.

Clear Secure (NYSE:YOU) last issued its earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The business had revenue of $211.40 million during the quarter, compared to analyst estimates of $208.02 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. Clear Secure’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. On average, research analysts forecast that Clear Secure, Inc. will post 0.98 EPS for the current year.

Clear Secure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Tuesday, June 10th. Clear Secure’s dividend payout ratio (DPR) is 31.25%.

Wall Street Analysts Forecast Growth

YOU has been the topic of several recent analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Clear Secure in a report on Friday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a report on Monday, March 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Clear Secure from $32.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Clear Secure presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Institutional Investors Weigh In On Clear Secure

Hedge funds have recently modified their holdings of the business. Harbor Investment Advisory LLC acquired a new stake in Clear Secure during the first quarter worth about $27,000. Advisors Asset Management Inc. purchased a new position in Clear Secure during the first quarter worth about $28,000. Fifth Third Bancorp boosted its stake in Clear Secure by 217.0% during the first quarter. Fifth Third Bancorp now owns 1,116 shares of the company’s stock worth $29,000 after buying an additional 764 shares during the period. Huntington National Bank purchased a new position in Clear Secure during the fourth quarter worth about $35,000. Finally, First Horizon Advisors Inc. boosted its stake in Clear Secure by 72.0% during the first quarter. First Horizon Advisors Inc. now owns 1,474 shares of the company’s stock worth $38,000 after buying an additional 617 shares during the period. 73.80% of the stock is currently owned by institutional investors and hedge funds.

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.