JPMorgan Chase & Co. Trims Stock Holdings in Clear Secure, Inc. (NYSE:YOU)

JPMorgan Chase & Co. trimmed its position in Clear Secure, Inc. (NYSE:YOU - Free Report) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,673,597 shares of the company's stock after selling 26,129 shares during the period. JPMorgan Chase & Co. owned approximately 1.20% of Clear Secure worth $55,463,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in shares of Clear Secure by 0.5% in the second quarter. Hsbc Holdings PLC now owns 78,968 shares of the company's stock valued at $1,467,000 after buying an additional 409 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Clear Secure by 2.0% in the 2nd quarter. Truist Financial Corp now owns 29,061 shares of the company's stock worth $544,000 after acquiring an additional 582 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Clear Secure by 6.1% during the 2nd quarter. Principal Financial Group Inc. now owns 11,859 shares of the company's stock valued at $222,000 after purchasing an additional 681 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Clear Secure during the 3rd quarter worth approximately $26,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Clear Secure during the 3rd quarter worth approximately $33,000. 73.80% of the stock is owned by institutional investors and hedge funds.

Clear Secure Stock Up 0.9 %

YOU stock traded up $0.23 during midday trading on Friday, hitting $27.27. The company's stock had a trading volume of 1,178,205 shares, compared to its average volume of 1,252,752. Clear Secure, Inc. has a 1 year low of $16.05 and a 1 year high of $38.88. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 31.71 and a beta of 1.43. The stock's 50-day moving average price is $28.38 and its 200 day moving average price is $27.46.

Clear Secure (NYSE:YOU - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates 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 firm posted $0.20 earnings per share. Clear Secure's quarterly revenue was up 23.7% compared to the same quarter last year. As a group, equities analysts forecast that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.50 annualized dividend and a dividend yield of 1.83%. This is a positive change from Clear Secure's previous quarterly dividend of $0.10. Clear Secure's dividend payout ratio (DPR) is presently 58.14%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Clear Secure from $24.00 to $32.00 and gave the company a "hold" rating in a research report on Monday, October 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price objective on shares of Clear Secure in a report on Monday, December 16th. Telsey Advisory Group upped their target price on shares of Clear Secure from $34.00 to $42.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Wedbush reissued a "neutral" rating and set a $26.00 price target (up from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Clear Secure currently has an average rating of "Moderate Buy" and an average target price of $35.20.

Insider Buying and Selling

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $34.08, for a total value of $5,112,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 37.85% of the stock is currently owned by insiders.

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.