Delta Air Lines Inc. lessened its holdings in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) by 48.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,277,958 shares of the company's stock after selling 4,000,000 shares during the quarter. Clear Secure comprises 16.9% of Delta Air Lines Inc.'s portfolio, making the stock its 2nd biggest holding. Delta Air Lines Inc. owned 3.07% of Clear Secure worth $141,772,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in YOU. CWM LLC lifted its stake in Clear Secure by 968.0% in the 2nd quarter. CWM LLC now owns 7,252 shares of the company's stock worth $136,000 after purchasing an additional 6,573 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Clear Secure by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 477,605 shares of the company's stock valued at $8,936,000 after buying an additional 35,426 shares during the last quarter. Legato Capital Management LLC bought a new position in Clear Secure during the second quarter valued at approximately $252,000. Arkadios Wealth Advisors purchased a new position in Clear Secure during the 2nd quarter valued at approximately $232,000. Finally, Panagora Asset Management Inc. increased its stake in Clear Secure by 6.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 180,712 shares of the company's stock worth $3,381,000 after acquiring an additional 11,720 shares during the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Clear Secure
In other Clear Secure news, CFO Kenneth L. Cornick sold 250,000 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total transaction of $8,075,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alclear Investments Ii, Llc sold 122,579 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.04, for a total value of $3,804,852.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 672,579 shares of company stock valued at $21,947,852. 37.85% of the stock is currently owned by insiders.
Analyst Ratings Changes
YOU has been the topic of several research reports. Wedbush restated a "neutral" rating and issued a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Telsey Advisory Group boosted their target price on shares of Clear Secure from $34.00 to $42.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Needham & Company LLC restated a "buy" rating and set a $45.00 target price on shares of Clear Secure in a research report on Friday, November 8th. Finally, Stifel Nicolaus lifted their price target on Clear Secure from $24.00 to $32.00 and gave the stock a "hold" rating in a research report on Monday, October 28th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $32.67.
Check Out Our Latest Stock Analysis on Clear Secure
Clear Secure Price Performance
YOU stock traded down $0.61 during mid-day trading on Friday, reaching $26.37. 980,215 shares of the company's stock were exchanged, compared to its average volume of 1,789,655. Clear Secure, Inc. has a 12-month low of $16.05 and a 12-month high of $38.88. The stock's 50 day moving average is $30.93 and its 200 day moving average is $26.31. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 31.38 and a beta of 1.43.
Clear Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). The firm 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%. The company's quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. On average, research analysts forecast that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.
Clear Secure Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost from Clear Secure's previous quarterly dividend of $0.10. Clear Secure's dividend payout ratio (DPR) is currently 58.14%.
About Clear Secure
(
Free Report)
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.
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