CLEAR Secure (NYSE:YOU) Shares Up 7.2% – Still a Buy?

Shares of CLEAR Secure, Inc. (NYSE:YOU) rose 7.2% on Wednesday . The stock traded as high as $57.73 and last traded at $57.73. Approximately 930,561 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 1,574,807 shares. The stock had previously closed at $53.84.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group set a $70.00 price objective on CLEAR Secure in a research report on Monday, July 20th. Zacks Research lowered CLEAR Secure from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wells Fargo & Company raised their price target on CLEAR Secure from $33.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Telsey Advisory Group lifted their price objective on CLEAR Secure from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus set a $60.00 price objective on CLEAR Secure in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.57.

CLEAR Secure Trading Up 10.7%

The business’s fifty day simple moving average is $54.85 and its 200 day simple moving average is $48.49. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 48.11 and a beta of 1.08.

CLEAR Secure (NYSE:YOU) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. CLEAR Secure had a return on equity of 68.98% and a net margin of 13.01%.The company had revenue of $253.00 million for the quarter, compared to the consensus estimate of $244.38 million. During the same quarter in the prior year, the business posted $0.26 EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, research analysts anticipate that CLEAR Secure, Inc. will post 1.61 earnings per share for the current year.

CLEAR Secure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, June 10th. CLEAR Secure’s dividend payout ratio is currently 48.39%.

Insider Buying and Selling at CLEAR Secure

In other CLEAR Secure news, President Michael Z. Barkin sold 11,550 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $56.29, for a total transaction of $650,149.50. Following the transaction, the president owned 22,994 shares in the company, valued at approximately $1,294,332.26. This trade represents a 33.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Schlegel sold 4,412 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $59.02, for a total value of $260,396.24. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,962 shares of company stock valued at $1,360,146. 29.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Durable Capital Partners LP increased its stake in CLEAR Secure by 153.1% in the second quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock valued at $207,932,000 after purchasing an additional 4,531,161 shares in the last quarter. State Street Corp grew its holdings in shares of CLEAR Secure by 1.8% in the 4th quarter. State Street Corp now owns 3,312,235 shares of the company’s stock valued at $116,193,000 after buying an additional 59,067 shares during the period. Morgan Stanley grew its holdings in shares of CLEAR Secure by 6.0% in the 4th quarter. Morgan Stanley now owns 2,696,837 shares of the company’s stock valued at $94,605,000 after buying an additional 152,074 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of CLEAR Secure by 0.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,680,942 shares of the company’s stock valued at $129,784,000 after buying an additional 8,883 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of CLEAR Secure by 5.5% in the 4th quarter. Wellington Management Group LLP now owns 2,626,856 shares of the company’s stock valued at $92,150,000 after buying an additional 137,249 shares in the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

About CLEAR Secure

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.