CLEAR Secure (NYSE:YOU) Stock Price Down 7% – Here’s What Happened

CLEAR Secure, Inc. (NYSE:YOU) shares fell 7% during mid-day trading on Wednesday . The company traded as low as $57.07 and last traded at $58.0090. 195,061 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,663,110 shares. The stock had previously closed at $62.36.

Analysts Set New Price Targets

A number of brokerages recently issued reports on YOU. Wall Street Zen raised CLEAR Secure from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Wells Fargo & Company upped 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. Stifel Nicolaus set a $60.00 price objective on CLEAR Secure in a report on Thursday, May 7th. Needham & Company LLC increased their price objective on CLEAR Secure from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, DA Davidson reissued a “neutral” rating and issued a $60.00 price objective (down from $65.00) on shares of CLEAR Secure in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CLEAR Secure currently has an average rating of “Moderate Buy” and an average price target of $60.00.

CLEAR Secure Stock Down 9.4%

The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 45.56 and a beta of 1.09. The company has a fifty day moving average price of $53.92 and a two-hundred day moving average price of $42.70.

CLEAR Secure (NYSE:YOU) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $253.00 million during the quarter, compared to the consensus estimate of $244.38 million. CLEAR Secure had a return on equity of 68.98% and a net margin of 13.01%.The company’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. On average, equities analysts anticipate that CLEAR Secure, Inc. will post 1.78 earnings per share for the current fiscal year.

CLEAR Secure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, June 10th. CLEAR Secure’s dividend payout ratio is 48.39%.

Insider Buying and Selling at CLEAR Secure

In other news, Director Adam Wiener sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $50.00, for a total transaction of $750,000.00. Following the completion of the sale, the director owned 132,634 shares in the company, valued at $6,631,700. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Schlegel sold 4,412 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $59.02, for a total value of $260,396.24. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 68,367 shares of company stock valued at $3,365,229. Corporate insiders own 39.73% of the company’s stock.

Institutional Investors Weigh In On CLEAR Secure

Several large investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. raised its stake in shares of CLEAR Secure by 6.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,257 shares of the company’s stock worth $184,000 after purchasing an additional 323 shares during the last quarter. SBI Securities Co. Ltd. raised its position in CLEAR Secure by 14.0% in the third quarter. SBI Securities Co. Ltd. now owns 3,634 shares of the company’s stock worth $121,000 after acquiring an additional 447 shares in the last quarter. Pictet Asset Management Holding SA raised its position in CLEAR Secure by 3.6% in the first quarter. Pictet Asset Management Holding SA now owns 12,744 shares of the company’s stock worth $617,000 after acquiring an additional 447 shares in the last quarter. Blue Trust Inc. raised its position in CLEAR Secure by 13.4% in the fourth quarter. Blue Trust Inc. now owns 3,814 shares of the company’s stock worth $134,000 after acquiring an additional 451 shares in the last quarter. Finally, Aspen Investment Management Inc raised its position in CLEAR Secure by 5.2% in the first quarter. Aspen Investment Management Inc now owns 10,175 shares of the company’s stock worth $493,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

CLEAR Secure Company Profile

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.