CLEAR Secure, Inc. (NYSE:YOU) Short Interest Up 304,820.6% in July

Key Points

• CLEAR Secure, Inc. experienced a dramatic increase in short interest of 304,820.6% in July, rising to approximately 19.2 million shares shorted, making up about 22.7% of its total shares.
• Wall Street analysts show mixed sentiment, with one downgrade to "hold," while others have raised target prices, projecting a consensus target of $32.40.
• Insider trades indicate significant stock sales, with insiders selling approximately 965,964 shares valued at around $24.4 million over the last three months.

CLEAR Secure, Inc. (NYSE:YOU - Get Free Report) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 19,210,000 shares, agrowthof304,820.6% from the June 30th total of 6,300 shares. Approximately22.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,740,000 shares, the days-to-cover ratio is presently 11.0 days. Based on an average daily trading volume, of 1,740,000 shares, the days-to-cover ratio is presently 11.0 days. Approximately22.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on YOU shares. Wall Street Zen downgraded CLEAR Secure from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stifel Nicolaus raised their target price on CLEAR Secure from $26.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $32.00 target price on shares of CLEAR Secure in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, CLEAR Secure has an average rating of "Moderate Buy" and a consensus price target of $32.40.

Insider Buying and Selling

In related news, Director Adam Wiener sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the director owned 207,634 shares of the company's stock, valued at $6,229,020. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth L. Cornick sold 228,374 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 965,964 shares of company stock worth $24,388,299 in the last three months. 39.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in YOU. Durable Capital Partners LP bought a new stake in CLEAR Secure in the first quarter worth approximately $76,673,000. Wellington Management Group LLP increased its position in CLEAR Secure by 74.9% in the 4th quarter. Wellington Management Group LLP now owns 3,322,514 shares of the company's stock valued at $88,512,000 after buying an additional 1,422,999 shares in the last quarter. Nuveen LLC bought a new stake in CLEAR Secure in the 1st quarter valued at about $30,862,000. Copeland Capital Management LLC increased its position in CLEAR Secure by 71.4% in the 1st quarter. Copeland Capital Management LLC now owns 1,976,459 shares of the company's stock valued at $51,210,000 after buying an additional 823,166 shares in the last quarter. Finally, Ribbit Management Company LLC bought a new stake in CLEAR Secure in the 4th quarter valued at about $14,598,000. 73.80% of the stock is owned by institutional investors and hedge funds.

CLEAR Secure Stock Performance

Shares of YOU traded down $0.51 during trading hours on Friday, reaching $28.90. The stock had a trading volume of 744,025 shares, compared to its average volume of 1,935,477. CLEAR Secure has a 12 month low of $18.23 and a 12 month high of $38.88. The stock has a market capitalization of $3.84 billion, a PE ratio of 18.04 and a beta of 1.25. The company's 50-day moving average is $27.27 and its two-hundred day moving average is $25.74.

CLEAR Secure (NYSE:YOU - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.04). The firm had revenue of $211.40 million during the quarter, compared to the consensus estimate of $208.02 million. CLEAR Secure had a net margin of 21.96% and a return on equity of 115.09%. The firm's revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. Equities analysts anticipate that CLEAR Secure will post 0.98 earnings per share for the current fiscal year.

CLEAR Secure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. CLEAR Secure's dividend payout ratio (DPR) is 31.25%.

CLEAR Secure Company 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.

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