CLEAR Secure (NYSE:YOU) Announces Quarterly Earnings Results

Key Points

• CLEAR Secure reported a quarterly earnings per share (EPS) of $0.26, exceeding analysts' expectations of $0.23, although it was lower than last year's EPS of $0.34.
• The company announced a quarterly dividend of $0.125, translating to an annualized yield of 1.5%, and has a dividend payout ratio of 31.25%.
• Despite positive earnings, some analysts have downgraded the stock from "buy" to "hold," resulting in an average rating of "Moderate Buy" with a consensus price target of $32.40.

CLEAR Secure (NYSE:YOU - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03, Zacks reports. CLEAR Secure had a return on equity of 115.09% and a net margin of 21.96%. During the same quarter last year, the company posted $0.34 earnings per share. The company's revenue for the quarter was up 17.6% compared to the same quarter last year.

CLEAR Secure Trading Up 9.9%

NYSE:YOU traded up $2.97 during trading hours on Tuesday, hitting $32.96. The company's stock had a trading volume of 2,030,122 shares, compared to its average volume of 1,944,184. The stock has a market capitalization of $4.38 billion, a P/E ratio of 20.51 and a beta of 1.25. The stock has a fifty day moving average of $27.49 and a 200-day moving average of $25.79. CLEAR Secure has a 52-week low of $21.67 and a 52-week high of $38.88.

CLEAR Secure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 10th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.5%. CLEAR Secure's dividend payout ratio (DPR) is presently 31.25%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Telsey Advisory Group reiterated an "outperform" rating and issued a $32.00 price objective on shares of CLEAR Secure in a report on Wednesday, July 30th. Stifel Nicolaus upped their price target on CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut CLEAR Secure from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.40.

Insider Buying and Selling at CLEAR Secure

In other CLEAR Secure news, Director Adam Wiener sold 5,000 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the transaction, the director owned 207,634 shares in the company, valued at $6,229,020. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth L. Cornick sold 315,591 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $25.02, for a total transaction of $7,896,086.82. Following the completion of the transaction, the director owned 64,935 shares of the company's stock, valued at $1,624,673.70. This represents a 82.94% decrease in their position. The disclosure for this sale can be found here. Insiders 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 corporate insiders.

Hedge Funds Weigh In On CLEAR Secure

Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its stake in shares of CLEAR Secure by 329.5% during the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock worth $25,000 after buying an additional 748 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of CLEAR Secure during the first quarter worth about $28,000. Amundi boosted its stake in shares of CLEAR Secure by 62.5% during the first quarter. Amundi now owns 3,743 shares of the company's stock worth $97,000 after buying an additional 1,440 shares during the period. NewEdge Advisors LLC boosted its stake in shares of CLEAR Secure by 64.7% during the first quarter. NewEdge Advisors LLC now owns 4,583 shares of the company's stock worth $119,000 after buying an additional 1,801 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CLEAR Secure by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,755 shares of the company's stock worth $1,367,000 after buying an additional 2,801 shares during the period. Institutional investors and hedge funds 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.

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