Clear Secure (NYSE:YOU) Trading Down 4.7% Following Insider Selling

Clear Secure, Inc. (NYSE:YOU - Get Free Report) shares were down 4.7% during trading on Friday following insider selling activity. The stock traded as low as $24.21 and last traded at $24.23. Approximately 1,228,778 shares changed hands during trading, a decline of 39% from the average daily volume of 2,020,189 shares. The stock had previously closed at $25.43.

Specifically, Director Kenneth L. Cornick sold 228,374 shares of Clear Secure stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $25.54, for a total transaction of $5,832,671.96. Following the completion of the sale, the director now owns 149,093 shares of the company's stock, valued at approximately $3,807,835.22. This trade represents a 60.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth L. Cornick sold 122,533 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $25.51, for a total transaction of $3,125,816.83. Following the completion of the transaction, the director now owns 64,935 shares in the company, valued at $1,656,491.85. This trade represents a 65.36% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on YOU shares. Needham & Company LLC reiterated a "buy" rating and issued a $45.00 price objective on shares of Clear Secure in a research note on Monday, March 24th. Stifel Nicolaus dropped their price target on shares of Clear Secure from $32.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $32.00 price target on shares of Clear Secure in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Clear Secure has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

Clear Secure Price Performance

The firm has a market cap of $3.33 billion, a P/E ratio of 28.33 and a beta of 1.25. The company's 50-day moving average is $25.51 and its two-hundred day moving average is $25.49.

Clear Secure (NYSE:YOU - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.04). The firm had revenue of $211.40 million during the quarter, compared to analyst estimates of $208.02 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. Clear Secure's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, analysts expect that Clear Secure, Inc. will post 0.98 EPS for the current fiscal year.

Clear Secure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 10th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, June 10th. Clear Secure's dividend payout ratio is presently 31.25%.

Hedge Funds Weigh In On Clear Secure

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in Clear Secure by 329.5% in the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock valued at $25,000 after buying an additional 748 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in shares of Clear Secure in the first quarter worth about $27,000. Advisors Asset Management Inc. acquired a new stake in shares of Clear Secure in the 1st quarter valued at approximately $28,000. Fifth Third Bancorp grew its holdings in shares of Clear Secure by 217.0% during the 1st quarter. Fifth Third Bancorp now owns 1,116 shares of the company's stock valued at $29,000 after purchasing an additional 764 shares during the last quarter. Finally, Huntington National Bank acquired a new position in Clear Secure during the 4th quarter worth approximately $35,000. Institutional investors own 73.80% of the company's stock.

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.