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

State Street Corp boosted its holdings in Clear Secure, Inc. (NYSE:YOU) by 64.1% during the third quarter, Holdings Channel reports. The fund owned 3,360,945 shares of the company’s stock after purchasing an additional 1,312,419 shares during the period. State Street Corp’s holdings in Clear Secure were worth $111,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in YOU. FMR LLC increased its holdings in shares of Clear Secure by 30.6% in the third quarter. FMR LLC now owns 6,598,424 shares of the company’s stock valued at $218,672,000 after purchasing an additional 1,547,692 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Clear Secure by 56.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock worth $55,271,000 after buying an additional 1,066,400 shares during the period. Rice Hall James & Associates LLC grew its stake in Clear Secure by 303.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock valued at $22,445,000 after buying an additional 902,436 shares during the last quarter. Marshall Wace LLP raised its holdings in Clear Secure by 278.3% in the 2nd quarter. Marshall Wace LLP now owns 1,099,062 shares of the company’s stock valued at $20,563,000 after acquiring an additional 808,515 shares during the period. Finally, Millennium Management LLC lifted its position in Clear Secure by 56.3% during the second quarter. Millennium Management LLC now owns 2,103,578 shares of the company’s stock worth $39,358,000 after acquiring an additional 757,528 shares during the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on YOU. Wedbush reaffirmed a “neutral” rating and issued a $26.00 target price (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Clear Secure in a report on Friday, November 8th. Stifel Nicolaus increased their price objective 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, Telsey Advisory Group boosted their target price on shares of Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.67.

Insider Transactions at Clear Secure

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth L. Cornick sold 250,000 shares of Clear Secure stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total value of $8,075,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 550,000 shares of company stock worth $18,143,000. Corporate insiders own 37.85% of the company’s stock.

Clear Secure Stock Down 2.3 %

YOU stock opened at $26.37 on Monday. The company’s 50-day moving average price is $30.84 and its two-hundred day moving average price is $26.51. The firm has a market cap of $3.68 billion, a P/E 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.

Clear Secure (NYSE:YOU) last issued its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. The business had revenue of $198.40 million during the quarter, compared to analyst estimates of $194.62 million. During the same period in the prior year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities analysts predict that Clear Secure, Inc. will post 0.98 EPS for the current year.

Clear Secure Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.90%. 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 payout ratio is presently 58.14%.

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.