Allspring Global Investments Holdings LLC Increases Stock Position in CLEAR Secure, Inc. (NYSE:YOU)

Allspring Global Investments Holdings LLC lifted its holdings in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 54.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,627 shares of the company's stock after purchasing an additional 9,768 shares during the period. Allspring Global Investments Holdings LLC's holdings in CLEAR Secure were worth $713,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harbour Investments Inc. increased its position in shares of CLEAR Secure by 23.0% in the fourth quarter. Harbour Investments Inc. now owns 2,405 shares of the company's stock worth $64,000 after acquiring an additional 450 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in CLEAR Secure by 0.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 62,763 shares of the company's stock valued at $1,626,000 after purchasing an additional 481 shares in the last quarter. Maryland State Retirement & Pension System raised its position in CLEAR Secure by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 31,661 shares of the company's stock valued at $843,000 after purchasing an additional 509 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of CLEAR Secure by 3.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 18,737 shares of the company's stock worth $499,000 after purchasing an additional 612 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of CLEAR Secure by 217.0% during the first quarter. Fifth Third Bancorp now owns 1,116 shares of the company's stock worth $29,000 after purchasing an additional 764 shares in the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CLEAR Secure news, Director Adam Wiener sold 3,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $27.50, for a total value of $82,500.00. Following the transaction, the director owned 212,634 shares of the company's stock, valued at $5,847,435. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth L. Cornick sold 228,374 shares of CLEAR Secure stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 approximately $3,807,835.22. This trade represents a 60.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 960,964 shares of company stock worth $24,238,299 over the last three months. 39.73% of the stock is owned by corporate insiders.

CLEAR Secure Stock Down 0.3%

Shares of NYSE YOU opened at $28.51 on Thursday. CLEAR Secure, Inc. has a fifty-two week low of $18.23 and a fifty-two week high of $38.88. The business has a 50 day moving average price of $25.77 and a two-hundred day moving average price of $25.44. The firm has a market cap of $3.79 billion, a PE ratio of 17.82 and a beta of 1.25.

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

CLEAR Secure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.75%. CLEAR Secure's dividend payout ratio (DPR) is 31.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded CLEAR Secure from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Needham & Company LLC reiterated a "buy" rating and set a $45.00 price objective on shares of CLEAR Secure in a research note on Monday, March 24th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $32.00 target price on shares of CLEAR Secure in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.