Insider Selling: Clear Secure, Inc. (NYSE:YOU) Director Sells $3,125,816.83 in Stock

Clear Secure, Inc. (NYSE:YOU) Director Kenneth L. Cornick sold 122,533 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $25.51, for a total value of $3,125,816.83. Following the completion of the sale, the director now directly owns 64,935 shares in the company, valued at $1,656,491.85. This trade represents a 65.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Clear Secure Trading Down 5.6%

Clear Secure stock opened at $24.01 on Friday. The company has a market capitalization of $3.29 billion, a PE ratio of 27.91 and a beta of 1.25. Clear Secure, Inc. has a 12 month low of $16.53 and a 12 month high of $38.88. The stock has a 50-day moving average price of $25.63 and a two-hundred day moving average price of $25.55.

Clear Secure (NYSE:YOU) last posted its earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.04). The firm had revenue of $211.40 million during the quarter, compared to the consensus estimate of $208.02 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. Clear Secure’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, analysts predict that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.08%. Clear Secure’s dividend payout ratio (DPR) is 31.25%.

Hedge Funds Weigh In On Clear Secure

A number of hedge funds have recently made changes to their positions in YOU. Geneos Wealth Management Inc. raised its position in shares of Clear Secure by 329.5% during the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock worth $25,000 after acquiring an additional 748 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of Clear Secure during the first quarter worth about $27,000. Advisors Asset Management Inc. bought a new position in shares of Clear Secure during the first quarter worth about $28,000. Fifth Third Bancorp raised its position in shares of 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 acquiring an additional 764 shares during the last quarter. Finally, Huntington National Bank bought a new position in shares of Clear Secure during the fourth quarter worth about $35,000. 73.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on YOU shares. Stifel Nicolaus dropped their target price on Clear Secure from $32.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $32.00 target price on shares of Clear Secure in a research report on Friday, May 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Clear Secure in a research report on Monday, March 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clear Secure currently has an average rating of “Moderate Buy” and an average price target of $32.00.

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.