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

Connor Clark & Lunn Investment Management Ltd. cut its stake in Clear Secure, Inc. (NYSE:YOU - Free Report) by 33.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 614,780 shares of the company's stock after selling 309,263 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.44% of Clear Secure worth $20,374,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of YOU. ProShare Advisors LLC increased its holdings in Clear Secure by 9.7% in the 1st quarter. ProShare Advisors LLC now owns 14,939 shares of the company's stock valued at $318,000 after buying an additional 1,327 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Clear Secure by 11.7% in the 1st 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 in the last quarter. Edgestream Partners L.P. acquired a new stake in Clear Secure in the first quarter valued at about $837,000. Quadrature Capital Ltd grew its holdings in shares of Clear Secure by 4.7% during the 1st quarter. Quadrature Capital Ltd now owns 45,446 shares of the company's stock valued at $967,000 after purchasing an additional 2,039 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Clear Secure by 26.2% during the first quarter. Epoch Investment Partners Inc. now owns 73,614 shares of the company's stock worth $1,566,000 after buying an additional 15,269 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

YOU has been the subject of a number of recent research reports. Wedbush reaffirmed a "neutral" rating and issued a $26.00 target price (up previously from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Telsey Advisory Group raised their price objective on Clear Secure from $34.00 to $42.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Stifel Nicolaus upped their target price on 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 boosted their price objective on Clear Secure from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Finally, Needham & Company LLC restated a "buy" rating and issued a $45.00 price target on shares of Clear Secure in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $32.67.

Clear Secure Stock Performance

Shares of Clear Secure stock traded down $0.28 during trading hours on Thursday, reaching $26.51. The company's stock had a trading volume of 289,518 shares, compared to its average volume of 1,777,790. Clear Secure, Inc. has a one year low of $16.05 and a one year high of $38.88. The company has a market capitalization of $3.70 billion, a P/E ratio of 31.14 and a beta of 1.63. The stock's fifty day simple moving average is $32.61 and its two-hundred day simple moving average is $25.33.

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

Clear Secure Increases Dividend

The firm 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 dividend of $0.125 per share. This is a positive change from Clear Secure's previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, December 10th. Clear Secure's dividend payout ratio (DPR) is 46.51%.

Insider Activity at Clear Secure

In other Clear Secure news, Director Alclear Investments Ii, Llc sold 150,000 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $34.08, for a total transaction of $5,112,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dennis W. Liu sold 1,500 shares of the company's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $46,575.00. Following the sale, the chief accounting officer now owns 7,211 shares in the company, valued at $223,901.55. The trade was a 17.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,006,435 shares of company stock worth $32,173,077. 37.85% of the stock is owned by company insiders.

Clear Secure 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.