Charles Schwab Investment Management Inc. Boosts Stock Position in Clear Secure, Inc. (NYSE:YOU)

Charles Schwab Investment Management Inc. grew its holdings in Clear Secure, Inc. (NYSE:YOU - Free Report) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 872,154 shares of the company's stock after purchasing an additional 55,136 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of Clear Secure worth $28,903,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Renaissance Technologies LLC increased its stake in shares of Clear Secure by 56.5% during the second quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company's stock valued at $55,271,000 after buying an additional 1,066,400 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of Clear Secure by 303.6% during the second quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company's stock valued at $22,445,000 after buying an additional 902,436 shares during the period. Marshall Wace LLP increased its stake in shares of Clear Secure by 278.3% during the second quarter. Marshall Wace LLP now owns 1,099,062 shares of the company's stock valued at $20,563,000 after buying an additional 808,515 shares during the period. Millennium Management LLC increased its stake in shares of Clear Secure by 56.3% during the second quarter. Millennium Management LLC now owns 2,103,578 shares of the company's stock valued at $39,358,000 after buying an additional 757,528 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Clear Secure by 402.2% during the second quarter. Victory Capital Management Inc. now owns 885,325 shares of the company's stock valued at $16,564,000 after buying an additional 709,020 shares during the period. Hedge funds and other institutional investors own 73.80% of the company's stock.

Wall Street Analysts Forecast Growth

YOU has been the topic of several research reports. Needham & Company LLC restated a "buy" rating and set a $45.00 price target on shares of Clear Secure in a research note on Friday, November 8th. Stifel Nicolaus lifted their target price on Clear Secure from $24.00 to $32.00 and gave the company a "hold" rating in a research note on Monday, October 28th. The Goldman Sachs Group lifted their target price on Clear Secure from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Telsey Advisory Group lifted their target price on Clear Secure from $34.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Wedbush reiterated a "neutral" rating and issued a $26.00 target price (up previously from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $32.67.

Insider Buying and Selling

In other Clear Secure news, CFO Kenneth L. Cornick sold 250,000 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total value of $8,075,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alclear Investments Ii, Llc sold 150,000 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $34.08, for a total value of $5,112,000.00. The disclosure for this sale can be found here. Insiders sold 901,500 shares of company stock valued at $29,055,829 over the last quarter. 37.85% of the stock is currently owned by company insiders.

Clear Secure Price Performance

NYSE YOU traded down $0.31 during trading on Thursday, hitting $27.05. The company's stock had a trading volume of 3,507,950 shares, compared to its average volume of 1,791,733. The company has a market cap of $3.77 billion, a PE ratio of 30.67 and a beta of 1.43. The business's 50 day simple moving average is $31.47 and its 200-day simple moving average is $25.94. Clear Secure, Inc. has a fifty-two week low of $16.05 and a fifty-two week high of $38.88.

Clear Secure (NYSE:YOU - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.03). The business had revenue of $198.40 million during the quarter, compared to analyst estimates of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. Clear Secure's revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 EPS. Analysts expect that Clear Secure, Inc. will post 0.98 EPS for the current fiscal year.

Clear Secure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.125 per share. This is an increase from Clear Secure's previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.85%. Clear Secure's payout ratio is 46.51%.

About Clear Secure

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.