State Street Corp Grows Holdings in Clear Secure, Inc. (NYSE:YOU)

State Street Corp grew its holdings in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) by 64.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,360,945 shares of the company's stock after acquiring an additional 1,312,419 shares during the quarter. State Street Corp owned 2.41% of Clear Secure worth $111,381,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its stake in 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 purchasing an additional 1,547,692 shares during the period. Renaissance Technologies LLC raised its stake in shares of Clear Secure by 56.5% during the second quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company's stock valued at $55,271,000 after acquiring an additional 1,066,400 shares during the last quarter. Millennium Management LLC lifted its holdings in Clear Secure by 56.3% in the 2nd quarter. Millennium Management LLC now owns 2,103,578 shares of the company's stock worth $39,358,000 after buying an additional 757,528 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of Clear Secure by 14.6% during the third quarter. Rice Hall James & Associates LLC now owns 1,374,670 shares of the company's stock valued at $45,557,000 after buying an additional 175,021 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Clear Secure by 6.4% during the third quarter. Janney Montgomery Scott LLC now owns 1,214,456 shares of the company's stock valued at $40,247,000 after buying an additional 73,303 shares during the period. 73.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Clear Secure 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 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 SEC, which is available through this hyperlink. Also, CFO Kenneth L. Cornick sold 250,000 shares of Clear Secure 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 disclosure for this sale can be found here. Insiders sold 550,000 shares of company stock valued at $18,143,000 over the last quarter. 37.85% of the stock is currently owned by company insiders.

Clear Secure Trading Down 1.5 %

Shares of NYSE:YOU traded down $0.41 during midday trading on Monday, reaching $25.97. 1,943,032 shares of the company were exchanged, 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 stock has a market cap of $3.62 billion, a PE ratio of 30.19 and a beta of 1.43. The business's fifty day moving average is $30.74 and its two-hundred day moving average is $26.57.

Clear Secure (NYSE:YOU - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $198.40 million during the quarter, compared to the consensus estimate of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The firm's revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. As a group, sell-side analysts expect that Clear Secure, Inc. will post 0.98 EPS for the current year.

Clear Secure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.93%. This is an increase from Clear Secure's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, December 10th. Clear Secure's dividend payout ratio is presently 58.14%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on YOU shares. Wedbush reiterated 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. Telsey Advisory Group boosted their price target 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. Stifel Nicolaus increased their price target on shares of Clear Secure from $24.00 to $32.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price objective on shares of Clear Secure in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.