JPMorgan Chase & Co. Cuts Stock Holdings in Clear Secure, Inc. (NYSE:YOU)

JPMorgan Chase & Co. reduced its position in Clear Secure, Inc. (NYSE:YOU) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,673,597 shares of the company’s stock after selling 26,129 shares during the period. JPMorgan Chase & Co.’s holdings in Clear Secure were worth $55,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of Clear Secure during the 3rd quarter valued at about $26,000. Future Financial Wealth Managment LLC bought a new position in Clear Secure during the third quarter valued at approximately $33,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Clear Secure in the second quarter worth approximately $26,000. KBC Group NV bought a new stake in Clear Secure in the 3rd quarter worth approximately $90,000. Finally, NBC Securities Inc. purchased a new stake in Clear Secure during the 3rd quarter valued at $105,000. 73.80% of the stock is owned by institutional investors.

Clear Secure Stock Performance

NYSE:YOU opened at $27.27 on Friday. The stock has a 50-day simple moving average of $28.38 and a two-hundred day simple moving average of $27.39. The firm has a market capitalization of $3.80 billion, a PE ratio of 31.71 and a beta of 1.43. Clear Secure, Inc. has a 52-week low of $16.05 and a 52-week high of $38.88.

Clear Secure (NYSE:YOU) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) 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 company had revenue of $198.40 million for the quarter, compared to the consensus estimate of $194.62 million. During the same quarter last year, the firm posted $0.20 earnings per share. The company’s revenue was up 23.7% compared to the same quarter last year. Equities analysts forecast that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 10th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.83%. This is an increase from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, December 10th. Clear Secure’s dividend payout ratio (DPR) is presently 58.14%.

Insider Activity at Clear Secure

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 37.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on YOU shares. Wedbush restated a “neutral” rating and issued a $26.00 price target (up from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Telsey Advisory Group boosted their price target on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus increased their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Clear Secure in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.

Clear Secure 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.