Connor Clark & Lunn Investment Management Ltd. Sells 309,263 Shares of Clear Secure, Inc. (NYSE:YOU)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Clear Secure, Inc. (NYSE:YOU - Free Report) by 33.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 614,780 shares of the company's stock after selling 309,263 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.44% of Clear Secure worth $20,374,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Clear Secure by 11.7% during the first quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company's stock valued at $224,866,000 after purchasing an additional 1,111,330 shares during the period. Renaissance Technologies LLC grew its stake in shares of Clear Secure by 56.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company's stock worth $55,271,000 after acquiring an additional 1,066,400 shares during the period. Rice Hall James & Associates LLC increased its holdings in Clear Secure by 303.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company's stock worth $22,445,000 after acquiring an additional 902,436 shares during the last quarter. Marshall Wace LLP raised its stake in Clear Secure by 278.3% in the 2nd quarter. Marshall Wace LLP now owns 1,099,062 shares of the company's stock valued at $20,563,000 after acquiring an additional 808,515 shares during the period. Finally, Millennium Management LLC lifted its holdings in 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 purchasing an additional 757,528 shares during the last quarter. Institutional investors own 73.80% of the company's stock.

Clear Secure Stock Down 3.4 %

Shares of NYSE:YOU traded down $0.90 during trading on Thursday, hitting $25.89. The stock had a trading volume of 1,643,843 shares, compared to its average volume of 1,785,755. The firm's fifty day moving average is $32.54 and its 200 day moving average is $25.33. The company has a market capitalization of $3.61 billion, a PE ratio of 30.10 and a beta of 1.63. Clear Secure, Inc. has a 12 month low of $16.05 and a 12 month high of $38.88.

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

Clear Secure Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be given a $0.125 dividend. This is a positive change 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 yield of 1.93%. Clear Secure's payout ratio is 46.51%.

Insider Activity

In other Clear Secure news, Director Alclear Investments Ii, Llc sold 227,021 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $7,049,002.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Z. Barkin sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $28.64, for a total transaction of $716,000.00. Following the completion of the transaction, the director now directly owns 7,056 shares in the company, valued at approximately $202,083.84. The trade was a 77.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,006,435 shares of company stock valued at $32,173,077 in the last 90 days. 37.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

YOU has been the subject of a number of analyst reports. Telsey Advisory Group raised their price target on Clear Secure from $34.00 to $42.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Wedbush reaffirmed a "neutral" rating and set a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Stifel Nicolaus raised their price target on shares of Clear Secure from $24.00 to $32.00 and gave the company a "hold" rating in a report on Monday, October 28th. The Goldman Sachs Group upped their price target on shares of Clear Secure from $27.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Finally, 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. One 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 company has a consensus rating of "Hold" and a consensus price target of $32.67.

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.