Franklin Resources Inc. Grows Stock Holdings in Clear Secure, Inc. (NYSE:YOU)

Franklin Resources Inc. raised its position in Clear Secure, Inc. (NYSE:YOU) by 10.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,175 shares of the company’s stock after acquiring an additional 4,527 shares during the quarter. Franklin Resources Inc.’s holdings in Clear Secure were worth $1,612,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Clear Secure in the second quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new position in shares of Clear Secure in the third quarter valued at about $26,000. Future Financial Wealth Managment LLC purchased a new position in shares of Clear Secure in the third quarter valued at about $33,000. KBC Group NV purchased a new position in shares of Clear Secure in the third quarter valued at about $90,000. Finally, Plato Investment Management Ltd increased its position in shares of Clear Secure by 10,535.4% in the second quarter. Plato Investment Management Ltd now owns 5,105 shares of the company’s stock valued at $96,000 after acquiring an additional 5,057 shares during the period. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on YOU. Wedbush restated a “neutral” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Telsey Advisory Group boosted their price target 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. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Clear Secure in a research report on Monday, December 16th. Finally, Stifel Nicolaus boosted their price target on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.20.

Insiders Place Their Bets

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $34.08, for a total value of $5,112,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 37.85% of the company’s stock.

Clear Secure Stock Performance

Shares of YOU opened at $27.22 on Friday. The stock has a market cap of $3.79 billion, a PE ratio of 31.65 and a beta of 1.43. Clear Secure, Inc. has a fifty-two week low of $16.05 and a fifty-two week high of $38.88. The firm’s 50-day simple moving average is $29.28 and its two-hundred day simple moving average is $27.02.

Clear Secure (NYSE:YOU) last announced its quarterly earnings data 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). The business had revenue of $198.40 million during the quarter, compared to analysts’ expectations of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. Clear Secure’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 EPS. Equities research analysts predict that Clear Secure, Inc. will post 0.98 EPS for the current year.

Clear Secure Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Tuesday, December 10th. This is a boost from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s dividend payout ratio is 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.