40,344 Shares of CLEAR Secure, Inc. $YOU Purchased by Iridian Asset Management LLC CT

Key Points

• Iridian Asset Management purchased 40,344 shares of CLEAR Secure, valued at approximately $1.69 million. Institutional investors collectively own 73.8% of the company.
• CLEAR Secure reported quarterly EPS of $0.49, exceeding estimates of $0.40, while revenue rose 26.6% year over year to $277.76 million. The company also pays a quarterly dividend of $0.15 per share, yielding about 1.3%.
• Analyst sentiment is mixed: the stock has a consensus rating of Hold and an average price target of $58.29, compared with a recent price of $45.44.

Iridian Asset Management LLC CT bought a new stake in CLEAR Secure, Inc. (NYSE:YOU - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 40,344 shares of the company's stock, valued at approximately $1,692,000.

Several other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of CLEAR Secure by 4.3% in the 2nd quarter. GAMMA Investing LLC now owns 8,578 shares of the company's stock valued at $478,000 after acquiring an additional 351 shares during the period. Arizona State Retirement System lifted its holdings in shares of CLEAR Secure by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 23,206 shares of the company's stock worth $1,293,000 after acquiring an additional 444 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of CLEAR Secure by 3.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 12,744 shares of the company's stock worth $617,000 after acquiring an additional 447 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of CLEAR Secure by 6.9% in the 1st quarter. Pacer Advisors Inc. now owns 7,564 shares of the company's stock worth $366,000 after acquiring an additional 489 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of CLEAR Secure by 92.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,108 shares of the company's stock worth $39,000 after purchasing an additional 532 shares during the period. Hedge funds and other institutional investors own 73.80% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on YOU shares. The Goldman Sachs Group set a $70.00 target price on shares of CLEAR Secure in a report on Monday, July 20th. Wall Street Zen cut CLEAR Secure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Zacks Research cut CLEAR Secure from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Weiss Ratings upgraded CLEAR Secure from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Finally, Needham & Company LLC restated a "buy" rating and set a $70.00 price target on shares of CLEAR Secure in a research report on Wednesday, October 7th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $58.29.

CLEAR Secure Price Performance

Shares of NYSE:YOU opened at $45.44 on Friday. The firm has a market capitalization of $6.15 billion, a PE ratio of 30.91 and a beta of 1.01. The firm's 50-day moving average is $42.75 and its two-hundred day moving average is $50.32. CLEAR Secure, Inc. has a 1 year low of $30.23 and a 1 year high of $69.07.

CLEAR Secure (NYSE:YOU - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.09. CLEAR Secure had a net margin of 14.78% and a return on equity of 71.51%. The business had revenue of $277.76 million for the quarter, compared to analysts' expectations of $269.71 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The business's quarterly revenue was up 26.6% on a year-over-year basis. Analysts expect that CLEAR Secure, Inc. will post 1.88 EPS for the current fiscal year.

CLEAR Secure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, September 10th. CLEAR Secure's dividend payout ratio is presently 40.82%.

Insider Buying and Selling

In other CLEAR Secure news, CAO Dennis Liu sold 2,104 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $44.47, for a total transaction of $93,564.88. Following the sale, the chief accounting officer directly owned 15,870 shares in the company, valued at $705,738.90. This represents a 11.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Barkin sold 11,444 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $45.00, for a total transaction of $514,980.00. Following the sale, the president owned 11,550 shares in the company, valued at approximately $519,750. This trade represents a 49.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,047 shares of company stock valued at $808,615 in the last ninety days. Company insiders own 29.70% of the company's stock.

About CLEAR Secure

CLEAR Secure, Inc provides identity verification and secure access services through its CLEAR platform. The company uses biometric authentication and other identity technologies to help verify individuals and streamline access to participating locations and services.

Its consumer offerings include CLEAR Plus, a membership service that allows enrolled members to verify their identities at participating airports, and CLEAR Reserve, which enables travelers to reserve a time to proceed through select airport security checkpoints.

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