Allspring Global Investments Holdings LLC Acquires 9,768 Shares of CLEAR Secure, Inc. (NYSE:YOU)

Allspring Global Investments Holdings LLC lifted its stake in CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 54.7% in the first quarter, according to the company in its most recent disclosure 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of YOU. Charles Schwab Investment Management Inc. increased its holdings in shares of CLEAR Secure by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 918,367 shares of the company's stock valued at $24,465,000 after purchasing an additional 46,213 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of CLEAR Secure by 65.0% in the fourth quarter. Victory Capital Management Inc. now owns 738,393 shares of the company's stock valued at $19,671,000 after purchasing an additional 290,749 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CLEAR Secure in the fourth quarter valued at approximately $1,695,000. PNC Financial Services Group Inc. increased its holdings in shares of CLEAR Secure by 20.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,249 shares of the company's stock valued at $273,000 after purchasing an additional 1,711 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of CLEAR Secure in the fourth quarter valued at approximately $288,000. Institutional investors and hedge funds own 73.80% of the company's stock.

CLEAR Secure Trading Down 2.4%

Shares of YOU stock traded down $0.70 on Friday, hitting $28.39. The stock had a trading volume of 1,256,035 shares, compared to its average volume of 2,073,687. CLEAR Secure, Inc. has a twelve month low of $18.23 and a twelve month high of $38.88. The firm has a market cap of $3.78 billion, a P/E ratio of 17.74 and a beta of 1.25. The company has a fifty day moving average price of $25.93 and a two-hundred day moving average price of $25.45.

CLEAR Secure (NYSE:YOU - Get Free Report) last announced its quarterly earnings results 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 net margin of 21.96% and a return on equity of 115.09%. The firm had revenue of $211.40 million during the quarter, compared to analyst estimates of $208.02 million. During the same period last year, the firm earned $0.28 EPS. CLEAR Secure's quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts expect that CLEAR Secure, Inc. will post 0.98 earnings per share for the current year.

CLEAR Secure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 10th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Tuesday, June 10th. CLEAR Secure's payout ratio is presently 31.25%.

Insiders Place Their Bets

In related news, Director Adam Wiener sold 3,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $27.50, for a total value of $82,500.00. Following the completion of the transaction, the director directly owned 212,634 shares of the company's stock, valued at approximately $5,847,435. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth L. Cornick sold 315,591 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was 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 directly owned 64,935 shares of the company's stock, valued at approximately $1,624,673.70. The trade was a 82.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 960,964 shares of company stock valued at $24,238,299. Company insiders own 39.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC reiterated a "buy" rating and set a $45.00 target price on shares of CLEAR Secure in a research report on Monday, March 24th. Telsey Advisory Group reiterated an "outperform" rating and set a $32.00 target price on shares of CLEAR Secure in a research report on Friday, May 9th. Finally, Wall Street Zen cut shares of CLEAR Secure from a "buy" rating to a "hold" rating in a research report on Sunday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.00.

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.