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

Clear Secure, Inc. (NYSE:YOU - Get Free Report)'s share price was down 4.7% during mid-day trading on Friday following insider selling activity. The company 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 the firm's stock in a transaction dated 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 directly 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 position. The sale was disclosed in a document filed 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 on Wednesday, May 21st. The stock was sold at an average price of $25.51, for a total value of $3,125,816.83. Following 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.

Analyst Upgrades and Downgrades

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

Clear Secure Stock Down 5.2%

The stock has a 50-day moving average price of $25.68 and a 200 day moving average price of $25.72. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 28.10 and a beta of 1.25.

Clear Secure (NYSE:YOU - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.04). Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The firm had revenue of $211.40 million for the quarter, compared to analysts' expectations of $208.02 million. During the same period last year, the firm posted $0.28 earnings per share. Clear Secure's revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities analysts forecast that Clear Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

Clear Secure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 10th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.50 annualized dividend and a yield of 2.07%. Clear Secure's dividend payout ratio is presently 31.25%.

Institutional Trading of Clear Secure

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in Clear Secure by 24,161.2% during the 4th quarter. Pacer Advisors Inc. now owns 3,051,815 shares of the company's stock worth $81,300,000 after buying an additional 3,039,236 shares during the last quarter. Durable Capital Partners LP acquired a new stake in shares of Clear Secure in the first quarter valued at approximately $76,673,000. Arrowstreet Capital Limited Partnership grew its position in shares of Clear Secure by 112.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,766,798 shares of the company's stock worth $73,707,000 after acquiring an additional 1,463,748 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of 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 acquiring an additional 1,422,999 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in Clear Secure in the 4th quarter valued at $37,697,000. Institutional investors and hedge funds 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.

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