Penserra Capital Management LLC Invests $2.01 Million in Clear Secure, Inc. (NYSE:YOU)

Penserra Capital Management LLC bought a new stake in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 60,663 shares of the company's stock, valued at approximately $2,010,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of YOU. Capital Performance Advisors LLP bought a new stake in shares of Clear Secure in the 3rd quarter valued at approximately $26,000. Future Financial Wealth Managment LLC purchased a new stake in Clear Secure during the 3rd quarter valued at $33,000. University of Texas Texas AM Investment Management Co. bought a new stake in Clear Secure in the second quarter worth $26,000. KBC Group NV purchased a new position in Clear Secure during the third quarter worth $90,000. Finally, NBC Securities Inc. bought a new position in Clear Secure during the third quarter valued at $105,000. 73.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Clear Secure

In other news, CFO Kenneth L. Cornick sold 79,935 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $30.04, for a total transaction of $2,401,247.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Dennis W. Liu sold 1,500 shares of the business'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 transaction, the chief accounting officer now owns 7,211 shares in the company, valued at approximately $223,901.55. This trade represents a 17.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 981,435 shares of company stock valued at $31,457,077 over the last ninety days. 37.85% of the stock is owned by company insiders.

Clear Secure Stock Performance

YOU traded down $0.36 during trading on Tuesday, hitting $26.72. 1,649,394 shares of the stock were exchanged, compared to its average volume of 1,788,709. The firm has a 50 day simple moving average of $32.37 and a 200 day simple moving average of $25.57. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 31.47 and a beta of 1.63. Clear Secure, Inc. has a 1 year low of $16.05 and a 1 year high of $38.88.

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 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 firm had revenue of $198.40 million during the quarter, compared to the consensus estimate of $194.62 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business's revenue was up 23.7% compared to the same quarter last year. As a group, equities analysts anticipate that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This is an increase from Clear Secure's previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.87%. Clear Secure's dividend payout ratio (DPR) is currently 46.51%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Telsey Advisory Group lifted their price target 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. The Goldman Sachs Group boosted their target price on Clear Secure from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Stifel Nicolaus increased their price target on Clear Secure from $24.00 to $32.00 and gave the stock a "hold" rating in a report on Monday, October 28th. Wedbush restated a "neutral" rating and set a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Clear Secure in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $32.67.

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.