Clearbridge Investments LLC Reduces Position in Clear Secure, Inc. (NYSE:YOU)

Clearbridge Investments LLC trimmed its stake in Clear Secure, Inc. (NYSE:YOU - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 931,369 shares of the company's stock after selling 193,729 shares during the period. Clearbridge Investments LLC owned 0.67% of Clear Secure worth $24,812,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. FMR LLC lifted its holdings in Clear Secure by 30.6% in the third quarter. FMR LLC now owns 6,598,424 shares of the company's stock worth $218,672,000 after buying an additional 1,547,692 shares during the period. William Blair Investment Management LLC bought a new position in shares of Clear Secure in the 4th quarter worth approximately $37,697,000. Principal Financial Group Inc. lifted its stake in shares of Clear Secure by 3,937.1% in the 3rd quarter. Principal Financial Group Inc. now owns 478,760 shares of the company's stock valued at $15,866,000 after purchasing an additional 466,901 shares during the period. Geode Capital Management LLC boosted its position in shares of Clear Secure by 6.4% during the third quarter. Geode Capital Management LLC now owns 2,346,854 shares of the company's stock valued at $77,788,000 after purchasing an additional 141,208 shares in the last quarter. Finally, State Street Corp grew its stake in Clear Secure by 64.1% in the third quarter. State Street Corp now owns 3,360,945 shares of the company's stock worth $111,381,000 after purchasing an additional 1,312,419 shares during the period. Institutional investors own 73.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on YOU shares. Telsey Advisory Group reissued an "outperform" rating and set a $42.00 price objective on shares of Clear Secure in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $45.00 price target on shares of Clear Secure in a research report on Monday, March 24th. Finally, Stifel Nicolaus cut their price objective on shares of Clear Secure from $32.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

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Clear Secure Stock Performance

Shares of YOU traded down $0.35 during trading hours on Friday, hitting $24.92. The company had a trading volume of 2,674,211 shares, compared to its average volume of 1,970,256. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 28.97 and a beta of 1.37. The firm has a fifty day moving average price of $24.52 and a 200-day moving average price of $27.89. Clear Secure, Inc. has a 52-week low of $16.05 and a 52-week high of $38.88.

Clear Secure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, March 10th. Clear Secure's payout ratio is 32.47%.

Clear Secure Company Profile

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.