Bank of America Corp DE Sells 402,466 Shares of Clear Secure, Inc. (NYSE:YOU)

Bank of America Corp DE decreased its position in Clear Secure, Inc. (NYSE:YOU - Free Report) by 71.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,475 shares of the company's stock after selling 402,466 shares during the quarter. Bank of America Corp DE owned 0.12% of Clear Secure worth $4,328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. grew its holdings in shares of Clear Secure by 23.0% in the 4th quarter. Harbour Investments Inc. now owns 2,405 shares of the company's stock valued at $64,000 after acquiring an additional 450 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Clear Secure by 2.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,161 shares of the company's stock valued at $590,000 after acquiring an additional 461 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Clear Secure by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 31,661 shares of the company's stock valued at $843,000 after acquiring an additional 509 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Clear Secure by 3.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 18,737 shares of the company's stock valued at $499,000 after acquiring an additional 612 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Clear Secure by 56.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,132 shares of the company's stock valued at $57,000 after acquiring an additional 766 shares in the last quarter. Institutional investors and hedge funds own 73.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Clear Secure

In other Clear Secure news, Director Kenneth L. Cornick sold 291,466 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $25.05, for a total value of $7,301,223.30. Following the completion of the sale, the director now owns 64,935 shares in the company, valued at approximately $1,626,621.75. This trade represents a 81.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 957,964 shares of company stock valued at $24,155,799 in the last 90 days. 39.73% of the stock is currently owned by corporate insiders.

Clear Secure Stock Up 1.2%

Shares of NYSE:YOU traded up $0.30 during trading on Monday, hitting $25.05. 1,513,488 shares of the company were exchanged, compared to its average volume of 2,019,119. The business's 50 day moving average is $25.35 and its 200-day moving average is $25.42. The company has a market capitalization of $3.33 billion, a P/E ratio of 29.13 and a beta of 1.25. Clear Secure, Inc. has a 1-year low of $16.90 and a 1-year high of $38.88.

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

Clear Secure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.00%. Clear Secure's dividend payout ratio (DPR) is presently 31.25%.

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.