Clear Secure (NYSE:YOU) Stock Price Down 7.6% - Here's Why

Clear Secure, Inc. (NYSE:YOU - Get Free Report) shares dropped 7.6% on Wednesday . The company traded as low as $21.75 and last traded at $21.96. Approximately 955,920 shares were traded during trading, a decline of 45% from the average daily volume of 1,742,321 shares. The stock had previously closed at $23.77.

Analysts Set New Price Targets

YOU has been the topic of a number of recent research reports. Telsey Advisory Group restated an "outperform" rating and set a $42.00 price target on shares of Clear Secure in a research report on Thursday. Needham & Company LLC restated a "buy" rating and set a $45.00 price target on shares of Clear Secure in a research report on Thursday. Wedbush reiterated a "neutral" rating and issued a $26.00 target price (up from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Finally, Stifel Nicolaus decreased their target price on shares of Clear Secure from $32.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Clear Secure Trading Up 5.1 %

The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 27.56 and a beta of 1.38. The firm's fifty day simple moving average is $24.84 and its two-hundred day simple moving average is $28.43.

Clear Secure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Monday, March 10th. Clear Secure's dividend payout ratio (DPR) is 32.47%.

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Institutional Investors Weigh In On Clear Secure

A number of institutional investors and hedge funds have recently made changes to their positions in YOU. Capital Performance Advisors LLP purchased a new stake in shares of Clear Secure in the 3rd quarter valued at approximately $26,000. GAMMA Investing LLC raised its stake in shares of Clear Secure by 221.6% in the 4th quarter. GAMMA Investing LLC now owns 1,119 shares of the company's stock valued at $30,000 after acquiring an additional 771 shares during the period. Huntington National Bank purchased a new stake in shares of Clear Secure in the 4th quarter valued at approximately $35,000. SRS Capital Advisors Inc. raised its stake in shares of Clear Secure by 56.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,132 shares of the company's stock valued at $57,000 after acquiring an additional 766 shares during the period. Finally, Strategic Investment Solutions Inc. IL increased its stake in Clear Secure by 113,800.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,278 shares of the company's stock worth $61,000 after buying an additional 2,276 shares during the period. 73.80% of the stock is owned by hedge funds and other institutional investors.

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.