Clear Secure (NYSE:YOU) Shares Down 3.2% - Here's Why

Clear Secure, Inc. (NYSE:YOU - Get Free Report)'s stock price fell 3.2% on Wednesday . The stock traded as low as $25.33 and last traded at $25.62. 424,447 shares were traded during mid-day trading, a decline of 59% from the average session volume of 1,041,079 shares. The stock had previously closed at $26.48.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on YOU shares. Stifel Nicolaus lifted their price target on shares of Clear Secure from $24.00 to $32.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Wedbush reiterated a "neutral" rating and set a $26.00 target price (up previously from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Needham & Company LLC reissued a "buy" rating and issued a $45.00 target price on shares of Clear Secure in a report on Monday, December 16th. Finally, Telsey Advisory Group lifted 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $35.20.

Clear Secure Stock Performance

The stock's 50-day moving average is $27.02 and its 200 day moving average is $27.85. The stock has a market capitalization of $3.59 billion, a PE ratio of 29.93 and a beta of 1.41.

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

Clear Secure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.50 dividend on an annualized basis and a yield of 1.94%. This is a boost from Clear Secure's previous quarterly dividend of $0.10. Clear Secure's payout ratio is currently 58.14%.

Hedge Funds Weigh In On Clear Secure

A number of hedge funds have recently modified their holdings of the business. Hanseatic Management Services Inc. acquired a new stake in Clear Secure during the 4th quarter worth $446,000. Arkadios Wealth Advisors boosted its stake in shares of Clear Secure by 15.5% during the fourth quarter. Arkadios Wealth Advisors now owns 13,742 shares of the company's stock worth $366,000 after buying an additional 1,848 shares during the period. Tealwood Asset Management Inc. acquired a new stake in shares of Clear Secure during the fourth quarter worth about $1,248,000. First Hawaiian Bank grew its holdings in shares of Clear Secure by 325.6% during the fourth quarter. First Hawaiian Bank now owns 43,396 shares of the company's stock worth $1,156,000 after buying an additional 33,200 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its position in Clear Secure by 22.5% in the 4th quarter. CWA Asset Management Group LLC now owns 29,404 shares of the company's stock valued at $783,000 after acquiring an additional 5,406 shares during the period. 73.80% of the stock is currently 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.