Bank of New York Mellon Corp Takes Position in CLEAR Secure, Inc. $YOU

Key Points

• Bank of New York Mellon acquired 856,307 shares of CLEAR Secure, valued at approximately $47.7 million and representing 0.64% of the company. Institutional investors collectively own 73.8% of the stock.
• CLEAR Secure reported stronger-than-expected quarterly results, with earnings per share of $0.49 versus a $0.40 estimate and revenue of $277.8 million, up 26.6% year over year.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $59.71, while CLEAR Secure declared a quarterly dividend of $0.15 per share, yielding about 1.4% annually.

Bank of New York Mellon Corp acquired a new stake in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 856,307 shares of the company's stock, valued at approximately $47,722,000. Bank of New York Mellon Corp owned approximately 0.64% of CLEAR Secure as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Wedge Capital Management L L P NC purchased a new position in shares of CLEAR Secure in the 2nd quarter valued at approximately $82,542,000. GAMMA Investing LLC raised its holdings in shares of CLEAR Secure by 4.3% in the second quarter. GAMMA Investing LLC now owns 8,578 shares of the company's stock worth $478,000 after buying an additional 351 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of CLEAR Secure in the second quarter worth $398,000. Pacer Advisors Inc. lifted its stake in shares of CLEAR Secure by 6.9% during the first quarter. Pacer Advisors Inc. now owns 7,564 shares of the company's stock worth $366,000 after buying an additional 489 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of CLEAR Secure by 2,283.3% during the first quarter. Parallel Advisors LLC now owns 715 shares of the company's stock worth $35,000 after buying an additional 685 shares during the period. 73.80% of the stock is owned by hedge funds and other institutional investors.

CLEAR Secure Stock Performance

CLEAR Secure stock opened at $44.10 on Friday. CLEAR Secure, Inc. has a fifty-two week low of $29.43 and a fifty-two week high of $69.07. The firm has a 50 day moving average price of $51.91 and a 200 day moving average price of $50.78. The company has a market capitalization of $5.97 billion, a PE ratio of 30.00 and a beta of 1.06.

CLEAR Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.49 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 company had revenue of $277.76 million during the quarter, compared to analysts' expectations of $269.71 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm's revenue was up 26.6% on a year-over-year basis. As a group, equities research analysts forecast that CLEAR Secure, Inc. will post 1.71 earnings per share for the current year.

CLEAR Secure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. CLEAR Secure's dividend payout ratio is 40.82%.

Insider Buying and Selling at CLEAR Secure

In other CLEAR Secure news, EVP Kyle Mclaughlin sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $56.20, for a total transaction of $449,600.00. Following the completion of the sale, the executive vice president owned 29,519 shares of the company's stock, valued at $1,658,967.80. This represents a 21.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on YOU. JPMorgan Chase & Co. started coverage on CLEAR Secure in a research note on Monday. They set an "overweight" rating and a $55.00 price objective for the company. Zacks Research downgraded CLEAR Secure from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Wall Street Zen raised CLEAR Secure from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Needham & Company LLC lifted their price target on CLEAR Secure from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company boosted their price target on CLEAR Secure from $33.00 to $40.00 and gave the company an "underweight" rating in a report on Thursday, May 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 company's stock. According to data from MarketBeat.com, CLEAR Secure currently has an average rating of "Hold" and an average target price of $59.71.

CLEAR Secure Profile

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.

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