Clear Secure (NYSE:YOU) Shares Gap Down - What's Next?

Clear Secure, Inc. (NYSE:YOU - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $38.45, but opened at $31.24. Clear Secure shares last traded at $30.65, with a volume of 1,642,376 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Clear Secure from $24.00 to $32.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Telsey Advisory Group raised their target price on Clear Secure from $34.00 to $42.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. The Goldman Sachs Group raised their price target on 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 reissued a "buy" rating and set a $45.00 price objective on shares of Clear Secure in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Clear Secure currently has an average rating of "Hold" and an average price target of $31.83.

Clear Secure Stock Performance

The firm's fifty day simple moving average is $33.16 and its 200 day simple moving average is $24.67. The firm has a market cap of $4.08 billion, a P/E ratio of 38.58 and a beta of 1.63.

Clear Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.08. The company had revenue of $186.75 million for the quarter, compared to analyst estimates of $183.78 million. Clear Secure had a net margin of 10.36% and a return on equity of 35.33%. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 EPS. On average, equities research analysts predict that Clear Secure, Inc. will post 1.01 earnings per share for the current year.

Clear Secure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.71%. This is an increase from Clear Secure's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, December 10th. Clear Secure's dividend payout ratio (DPR) is 64.10%.

Insider Transactions at Clear Secure

In other Clear Secure news, CFO Kenneth L. Cornick sold 250,000 shares of Clear Secure stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total value of $8,075,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kenneth L. Cornick sold 250,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total transaction of $8,075,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard N. Jr. Patterson sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $27.04, for a total transaction of $202,800.00. Following the completion of the transaction, the insider now owns 26,727 shares in the company, valued at $722,698.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,164,935 shares of company stock worth $36,623,387. Company insiders own 37.85% of the company's stock.

Institutional Investors Weigh In On Clear Secure

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Clear Secure by 11.7% in 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 last quarter. Renaissance Technologies LLC grew its holdings in Clear Secure by 56.5% in the second quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company's stock valued at $55,271,000 after purchasing an additional 1,066,400 shares during the last quarter. Rice Hall James & Associates LLC grew its holdings in Clear Secure by 303.6% in the second quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company's stock valued at $22,445,000 after purchasing an additional 902,436 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Clear Secure by 278.3% during the second 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 last quarter. Finally, Millennium Management LLC boosted its stake in shares of 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 acquiring an additional 757,528 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company's stock.

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.

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