CLEAR Secure, Inc. (NYSE:YOU) to Issue $0.13 Quarterly Dividend

Key Points

• CLEAR Secure, Inc. declared a quarterly dividend of $0.13 per share, with a yield of 1.5%, aimed at rewarding shareholders.
• The company reported $0.26 earnings per share (EPS) for the latest quarter, exceeding analyst expectations, despite a yearly decline from $0.34 EPS last year.
• Currently, CLEAR Secure has a payout ratio of 31.3% and is expected to maintain a sustainable dividend future with a projected EPS of $1.04 next year.

CLEAR Secure, Inc. (NYSE:YOU - Get Free Report) declared a quarterly dividend on Tuesday, August 5th, RTT News reports. Investors of record on Wednesday, September 10th will be paid a dividend of 0.125 per share on Wednesday, September 17th. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, September 10th.

CLEAR Secure has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect CLEAR Secure to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 48.1%.

CLEAR Secure Stock Up 2.0%

Shares of NYSE YOU opened at $32.47 on Thursday. The firm has a market cap of $4.32 billion, a P/E ratio of 20.29 and a beta of 1.25. The business's 50 day moving average price is $27.80 and its 200 day moving average price is $25.87. CLEAR Secure has a 52 week low of $21.67 and a 52 week high of $38.88.

CLEAR Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. CLEAR Secure had a return on equity of 122.69% and a net margin of 21.17%. The business had revenue of $219.47 million during the quarter, compared to analysts' expectations of $214.90 million. During the same period in the previous year, the business earned $0.34 earnings per share. The business's revenue was up 17.6% compared to the same quarter last year. As a group, research analysts expect that CLEAR Secure will post 0.98 earnings per share for the current year.

Insider Buying and Selling at CLEAR Secure

In other news, Director Kenneth L. Cornick sold 228,374 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $25.54, for a total value of $5,832,671.96. Following the sale, the director directly owned 149,093 shares in the company, valued at $3,807,835.22. This represents a 60.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adam Wiener sold 5,000 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the transaction, the director owned 207,634 shares in the company, valued at $6,229,020. This trade represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 965,964 shares of company stock valued at $24,388,299. Corporate insiders own 39.73% of the company's stock.

Institutional Investors Weigh In On CLEAR Secure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Savant Capital LLC increased its holdings in CLEAR Secure by 1.1% in the second quarter. Savant Capital LLC now owns 34,508 shares of the company's stock valued at $958,000 after buying an additional 370 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of CLEAR Secure in the 2nd quarter worth about $421,000. First Horizon Advisors Inc. boosted its holdings in shares of CLEAR Secure by 22.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,804 shares of the company's stock valued at $50,000 after buying an additional 330 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in shares of CLEAR Secure during the 2nd quarter valued at about $2,915,000. Finally, Corton Capital Inc. acquired a new stake in CLEAR Secure during the second quarter worth about $201,000. Hedge funds and other institutional investors own 73.80% 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.