Verition Fund Management LLC Has $1.03 Million Stock Holdings in Clear Secure, Inc. (NYSE:YOU)

Verition Fund Management LLC reduced its stake in Clear Secure, Inc. (NYSE:YOU - Free Report) by 94.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,982 shares of the company's stock after selling 491,534 shares during the period. Verition Fund Management LLC's holdings in Clear Secure were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of YOU. Public Sector Pension Investment Board acquired a new stake in shares of Clear Secure during the 3rd quarter worth about $6,485,000. FORA Capital LLC acquired a new stake in shares of Clear Secure during the third quarter worth approximately $2,096,000. Blueshift Asset Management LLC raised its stake in shares of Clear Secure by 19.2% in the third quarter. Blueshift Asset Management LLC now owns 36,062 shares of the company's stock valued at $1,195,000 after acquiring an additional 5,808 shares during the last quarter. FMR LLC boosted its holdings 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 acquiring an additional 1,547,692 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Clear Secure by 6.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 46,461 shares of the company's stock worth $1,540,000 after acquiring an additional 2,689 shares in the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

Clear Secure Trading Up 1.5 %

Clear Secure stock traded up $0.40 during mid-day trading on Monday, hitting $27.47. The stock had a trading volume of 2,376,225 shares, compared to its average volume of 1,797,198. The stock has a 50-day simple moving average of $31.14 and a two-hundred day simple moving average of $26.22. The stock has a market capitalization of $3.83 billion, a PE ratio of 31.94 and a beta of 1.44. Clear Secure, Inc. has a 12 month low of $16.05 and a 12 month high of $38.88.

Clear Secure (NYSE:YOU - Get Free Report) last issued 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 business had revenue of $198.40 million during the quarter, compared to the consensus estimate of $194.62 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. 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 business posted $0.20 EPS. Sell-side analysts expect that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.125 per share. This is a boost from Clear Secure's previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 10th. This represents a $0.50 annualized dividend and a dividend yield of 1.82%. Clear Secure's payout ratio is presently 46.51%.

Insider Activity

In related news, CFO Kenneth L. Cornick sold 250,000 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total transaction of $8,075,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alclear Investments Ii, Llc sold 150,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total transaction of $5,112,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 672,979 shares of company stock valued at $21,960,252 in the last 90 days. 37.85% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on YOU. Wedbush reaffirmed a "neutral" rating and set a $26.00 price target (up from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Telsey Advisory Group raised their target price on Clear Secure from $34.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Clear Secure from $24.00 to $32.00 and gave the stock a "hold" rating in a research report on Monday, October 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $45.00 price objective on shares of Clear Secure in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.