Lord Abbett & CO. LLC Makes New $20.24 Million Investment in Clear Secure, Inc. (NYSE:YOU)

Lord Abbett & CO. LLC purchased a new position in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 610,821 shares of the company's stock, valued at approximately $20,243,000. Lord Abbett & CO. LLC owned approximately 0.44% of Clear Secure at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its stake in shares of Clear Secure by 30.6% in the 3rd quarter. FMR LLC now owns 6,598,424 shares of the company's stock worth $218,672,000 after buying an additional 1,547,692 shares during the last quarter. State Street Corp lifted its holdings in Clear Secure by 64.1% during the third quarter. State Street Corp now owns 3,360,945 shares of the company's stock worth $111,381,000 after acquiring an additional 1,312,419 shares during the period. Renaissance Technologies LLC boosted its position in Clear Secure by 56.5% in the second 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. Geode Capital Management LLC grew its stake in Clear Secure by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,346,854 shares of the company's stock valued at $77,788,000 after purchasing an additional 141,208 shares during the period. Finally, Millennium Management LLC increased its position 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 valued at $39,358,000 after purchasing an additional 757,528 shares during the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

Clear Secure Trading Down 1.5 %

Shares of NYSE YOU traded down $0.41 during midday trading on Monday, hitting $25.97. The company's stock had a trading volume of 1,943,032 shares, compared to its average volume of 1,790,276. Clear Secure, Inc. has a one year low of $16.05 and a one year high of $38.88. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 30.19 and a beta of 1.43. The stock has a fifty day moving average price of $30.74 and a 200 day moving average price of $26.57.

Clear Secure (NYSE:YOU - Get Free Report) last posted its earnings results 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). The company had revenue of $198.40 million for the quarter, compared to analysts' expectations of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The company's revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. On average, equities research analysts predict that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Tuesday, December 10th. This is a positive change from Clear Secure's previous quarterly dividend of $0.10. Clear Secure's payout ratio is presently 58.14%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $33.04, for a total transaction of $4,956,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth L. Cornick sold 250,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total value of $8,075,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 550,000 shares of company stock worth $18,143,000 over the last ninety days. Company insiders own 37.85% of the company's stock.

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.