Bank of America Corp DE Has $4.33 Million Position in Clear Secure, Inc. (NYSE:YOU)

Bank of America Corp DE trimmed its holdings in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) by 71.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Clear Secure by 112.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,766,798 shares of the company's stock valued at $73,707,000 after buying an additional 1,463,748 shares during the period. Wellington Management Group LLP lifted its position in 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 in the last quarter. William Blair Investment Management LLC bought a new stake in Clear Secure in the 4th quarter valued at $37,697,000. Copeland Capital Management LLC acquired a new position in Clear Secure in the 4th quarter worth $30,724,000. Finally, Renaissance Technologies LLC increased its holdings in Clear Secure by 15.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,698,159 shares of the company's stock worth $98,519,000 after purchasing an additional 501,000 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on YOU shares. Telsey Advisory Group restated an "outperform" rating and issued a $32.00 price target on shares of Clear Secure in a report on Friday, May 9th. Stifel Nicolaus dropped their target price on Clear Secure from $32.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of Clear Secure in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.00.

Clear Secure Price Performance

YOU stock traded up $0.47 during midday trading on Friday, hitting $24.78. The company's stock had a trading volume of 1,406,812 shares, compared to its average volume of 2,022,762. The company's fifty day moving average price is $25.38 and its 200 day moving average price is $25.44. Clear Secure, Inc. has a twelve month low of $16.65 and a twelve month high of $38.88. The stock has a market capitalization of $3.30 billion, a P/E ratio of 28.81 and a beta of 1.25.

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

Clear Secure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, June 10th. Clear Secure's dividend payout ratio (DPR) is 31.25%.

Insider Transactions at Clear Secure

In related news, Director Kenneth L. Cornick sold 122,533 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $25.51, for a total transaction of $3,125,816.83. Following the transaction, the director now directly owns 64,935 shares in the company, valued at approximately $1,656,491.85. The trade was a 65.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 957,964 shares of company stock worth $24,155,799 in the last 90 days. Corporate insiders own 39.73% of the company's stock.

Clear Secure 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.