Iridian Asset Management LLC CT Trims Holdings in Clear Secure, Inc. (NYSE:YOU)

Iridian Asset Management LLC CT cut its holdings in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) by 40.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 164,572 shares of the company's stock after selling 109,841 shares during the quarter. Clear Secure accounts for about 1.2% of Iridian Asset Management LLC CT's portfolio, making the stock its 23rd largest holding. Iridian Asset Management LLC CT owned about 0.12% of Clear Secure worth $5,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of YOU. Future Financial Wealth Managment LLC acquired a new position in shares of Clear Secure in the 3rd quarter valued at about $33,000. Montag A & Associates Inc. acquired a new position in shares of Clear Secure in the 1st quarter valued at $26,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Clear Secure during the second quarter worth $26,000. NBC Securities Inc. acquired a new stake in Clear Secure during the third quarter valued at $105,000. Finally, Plato Investment Management Ltd increased its holdings in Clear Secure by 10,535.4% in the second quarter. Plato Investment Management Ltd now owns 5,105 shares of the company's stock valued at $96,000 after buying an additional 5,057 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC increased their target price on shares of Clear Secure from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Clear Secure from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $34.00 target price on shares of Clear Secure in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus lifted their price target on shares of Clear Secure from $24.00 to $32.00 and gave the company a "hold" rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $30.50.

Insider Buying and Selling

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total value of $5,112,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $34.08, for a total value of $5,112,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Dennis W. Liu sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $25.03, for a total transaction of $37,545.00. Following the transaction, the chief accounting officer now owns 10,211 shares of the company's stock, valued at $255,581.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,173,935 shares of company stock valued at $36,826,532. Corporate insiders own 37.85% of the company's stock.

Clear Secure Stock Down 1.9 %

YOU traded down $0.71 during trading on Thursday, reaching $36.75. The company's stock had a trading volume of 2,142,887 shares, compared to its average volume of 1,683,051. Clear Secure, Inc. has a 1 year low of $16.05 and a 1 year high of $38.04. The firm has a fifty day simple moving average of $32.54 and a two-hundred day simple moving average of $24.13. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 47.11 and a beta of 1.65.

Clear Secure (NYSE:YOU - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $186.75 million during 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%. Clear Secure's revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. As a group, equities analysts forecast that Clear Secure, Inc. will post 1.01 EPS for the current fiscal year.

Clear Secure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 10th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, September 10th. Clear Secure's payout ratio is 51.28%.

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.