LGT Fund Management Co Ltd. Trims Position in CLEAR Secure, Inc. $YOU

LGT Fund Management Co Ltd. decreased its stake in shares of CLEAR Secure, Inc. (NYSE:YOU) by 44.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 77,400 shares of the company’s stock after selling 60,700 shares during the period. LGT Fund Management Co Ltd.’s holdings in CLEAR Secure were worth $3,747,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Durable Capital Partners LP increased its position in shares of CLEAR Secure by 153.1% during the second quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock worth $207,932,000 after acquiring an additional 4,531,161 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of CLEAR Secure by 6,038.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,463,717 shares of the company’s stock valued at $48,859,000 after purchasing an additional 1,439,873 shares during the period. Squarepoint Ops LLC grew its stake in CLEAR Secure by 4,573.0% in the second quarter. Squarepoint Ops LLC now owns 929,033 shares of the company’s stock worth $25,790,000 after purchasing an additional 909,152 shares in the last quarter. Norges Bank bought a new position in CLEAR Secure in the fourth quarter worth approximately $29,500,000. Finally, Jupiter Asset Management Ltd. increased its holdings in CLEAR Secure by 260.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 879,039 shares of the company’s stock worth $30,837,000 after purchasing an additional 635,400 shares during the period. 73.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CLEAR Secure

In other CLEAR Secure news, insider Jonathan Schlegel sold 4,412 shares of CLEAR Secure stock in a transaction on Friday, May 15th. The shares were sold at an average price of $59.02, for a total value of $260,396.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kyle Mclaughlin sold 8,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $56.20, for a total value of $449,600.00. Following the transaction, the executive vice president directly owned 29,519 shares in the company, valued at approximately $1,658,967.80. The trade was a 21.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,962 shares of company stock valued at $1,360,146 over the last 90 days. Insiders own 39.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their target price on CLEAR Secure from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Telsey Advisory Group increased their price target on CLEAR Secure from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and set a $75.00 price target on shares of CLEAR Secure in a research note on Thursday, May 7th. Wells Fargo & Company lifted their price objective on CLEAR Secure from $33.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus set a $60.00 price objective on shares of CLEAR Secure in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, CLEAR Secure currently has a consensus rating of “Hold” and an average target price of $60.00.

CLEAR Secure Trading Up 0.1%

YOU opened at $55.30 on Monday. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 44.59 and a beta of 1.08. CLEAR Secure, Inc. has a 12 month low of $28.21 and a 12 month high of $62.73. The stock has a fifty day moving average price of $55.72 and a 200-day moving average price of $46.93.

CLEAR Secure (NYSE:YOU) last issued its quarterly earnings data 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. The company had revenue of $253.00 million for 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 firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. On average, equities research analysts forecast that CLEAR Secure, Inc. will post 1.79 EPS for the current year.

CLEAR Secure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were 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 was Wednesday, June 10th. CLEAR Secure’s payout ratio is 48.39%.

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.