Summit Global Investments Buys New Holdings in CLEAR Secure, Inc. $YOU

Summit Global Investments bought a new stake in shares of CLEAR Secure, Inc. (NYSE:YOU) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 20,838 shares of the company’s stock, valued at approximately $874,000.

A number of other hedge funds have also added to or reduced their stakes in YOU. Parallel Advisors LLC increased its holdings in CLEAR Secure by 2,283.3% during the first quarter. Parallel Advisors LLC now owns 715 shares of the company’s stock valued at $35,000 after buying an additional 685 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of CLEAR Secure by 92.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,108 shares of the company’s stock worth $39,000 after acquiring an additional 532 shares during the last quarter. Reyes Financial Architecture Inc. bought a new stake in shares of CLEAR Secure during the 3rd quarter valued at $55,000. IFP Advisors Inc grew its position in shares of CLEAR Secure by 162.0% during the 2nd quarter. IFP Advisors Inc now owns 1,991 shares of the company’s stock valued at $111,000 after acquiring an additional 1,231 shares during the period. Finally, Sound Income Strategies LLC increased its stake in shares of CLEAR Secure by 112.9% in the 1st quarter. Sound Income Strategies LLC now owns 2,167 shares of the company’s stock worth $106,000 after purchasing an additional 1,149 shares in the last quarter. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on YOU. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of CLEAR Secure in a report on Wednesday, October 7th. Weiss Ratings raised CLEAR Secure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Zacks Research lowered CLEAR Secure from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. The Goldman Sachs Group set a $70.00 price target on CLEAR Secure in a research report on Monday, July 20th. Finally, DA Davidson decreased their price objective on CLEAR Secure from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, CLEAR Secure currently has an average rating of “Hold” and an average target price of $58.29.

CLEAR Secure Stock Performance

NYSE YOU opened at $47.77 on Tuesday. CLEAR Secure, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $69.07. The company has a market cap of $6.46 billion, a P/E ratio of 32.50 and a beta of 1.01. The business’s 50 day moving average price is $43.03 and its 200-day moving average price is $47.54.

CLEAR Secure (NYSE:YOU) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. CLEAR Secure had a return on equity of 71.51% and a net margin of 14.78%. The company had revenue of $277.76 million during the quarter, compared to analysts’ expectations of $269.71 million. During the same quarter in the previous year, the business earned $0.26 EPS. CLEAR Secure’s revenue was up 26.6% compared to the same quarter last year. As a group, equities analysts predict that CLEAR Secure, Inc. will post 1.88 EPS for the current year.

Insider Buying and Selling

In related news, EVP Kyle McLaughlin sold 4,499 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $44.47, for a total transaction of $200,070.53. Following the sale, the executive vice president owned 29,519 shares of the company’s stock, valued at $1,312,709.93. This trade represents a 13.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Dennis Liu sold 2,104 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $44.47, for a total transaction of $93,564.88. Following the completion of the sale, the chief accounting officer owned 15,870 shares in the company, valued at $705,738.90. This represents a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 18,047 shares of company stock worth $808,615 in the last three months. 29.70% of the stock is owned by insiders.

About CLEAR Secure

CLEAR Secure, Inc provides identity verification and secure access services through its CLEAR platform. The company uses biometric authentication and other identity technologies to help verify individuals and streamline access to participating locations and services.

Its consumer offerings include CLEAR Plus, a membership service that allows enrolled members to verify their identities at participating airports, and CLEAR Reserve, which enables travelers to reserve a time to proceed through select airport security checkpoints.