Hodges Capital Management Inc. Acquires Shares of 343,447 Clear Secure, Inc. (NYSE:YOU)

Hodges Capital Management Inc. purchased a new stake in Clear Secure, Inc. (NYSE:YOU - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 343,447 shares of the company's stock, valued at approximately $11,382,000. Hodges Capital Management Inc. owned about 0.25% of Clear Secure at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in YOU. FMR LLC increased its position in shares of Clear Secure by 30.6% in the third quarter. FMR LLC now owns 6,598,424 shares of the company's stock valued at $218,672,000 after acquiring an additional 1,547,692 shares during the last quarter. State Street Corp grew its stake in Clear Secure by 64.1% in the third quarter. State Street Corp now owns 3,360,945 shares of the company's stock valued at $111,381,000 after purchasing an additional 1,312,419 shares in the last quarter. Renaissance Technologies LLC increased its position 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 purchasing an additional 1,066,400 shares during the last quarter. Millennium Management LLC raised its stake in shares of Clear Secure by 56.3% during the 2nd quarter. Millennium Management LLC now owns 2,103,578 shares of the company's stock worth $39,358,000 after purchasing an additional 757,528 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Clear Secure in the 3rd quarter valued at approximately $62,950,000. 73.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Kenneth L. Cornick sold 250,000 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total transaction of $8,075,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dennis W. Liu sold 1,500 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $46,575.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 901,500 shares of company stock worth $29,055,829 in the last quarter. 37.85% of the stock is currently owned by corporate insiders.

Clear Secure Trading Up 0.1 %

YOU stock traded up $0.02 during mid-day trading on Friday, hitting $27.07. 2,492,959 shares of the company were exchanged, compared to its average volume of 2,286,074. Clear Secure, Inc. has a 1-year low of $16.05 and a 1-year high of $38.88. The business has a 50 day simple moving average of $31.26 and a 200-day simple moving average of $26.08. The stock has a market capitalization of $3.77 billion, a PE ratio of 31.48 and a beta of 1.43.

Clear Secure (NYSE:YOU - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.03). The firm had revenue of $198.40 million for the quarter, compared to analyst estimates of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The business's revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share. Equities research analysts expect 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 given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.85%. This is a positive change from Clear Secure's previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 10th. Clear Secure's dividend payout ratio (DPR) is currently 46.51%.

Analyst Ratings Changes

Several analysts have issued reports on YOU shares. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of Clear Secure in a research report on Friday, November 8th. Wedbush reiterated a "neutral" rating and set a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Stifel Nicolaus boosted their price target on Clear Secure from $24.00 to $32.00 and gave the stock a "hold" rating in a research report on Monday, October 28th. Finally, Telsey Advisory Group raised their price objective on Clear Secure from $34.00 to $42.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $32.67.

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.