Castellan Group Takes $12.34 Million Position in CLEAR Secure, Inc. (NYSE:YOU)

Key Points

• Castellan Group has acquired a new stake in CLEAR Secure, Inc., investing approximately $12.34 million for 476,333 shares, which makes up 3.5% of their total holdings.
• Insider transactions saw Director Kenneth L. Cornick sell 228,374 shares for about $5.83 million, significantly reducing his ownership by 60.5%.
• Wall Street analysts have mixed views on CLEAR Secure, with Stifel Nicolaus raising its price target to $28 but others downgrading the stock to a "hold," giving it a consensus rating of "Moderate Buy" with an average price target of $32.40.

Castellan Group bought a new stake in CLEAR Secure, Inc. (NYSE:YOU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 476,333 shares of the company's stock, valued at approximately $12,342,000. CLEAR Secure makes up 3.5% of Castellan Group's holdings, making the stock its 7th largest position. Castellan Group owned 0.35% of CLEAR Secure at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. New York State Common Retirement Fund boosted its position in CLEAR Secure by 6.3% during the first quarter. New York State Common Retirement Fund now owns 28,913 shares of the company's stock worth $749,000 after purchasing an additional 1,712 shares during the period. Allspring Global Investments Holdings LLC increased its stake in CLEAR Secure by 54.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 27,627 shares of the company's stock worth $713,000 after purchasing an additional 9,768 shares during the period. Personal CFO Solutions LLC purchased a new stake in shares of CLEAR Secure during the first quarter worth about $260,000. Principal Financial Group Inc. boosted its stake in shares of CLEAR Secure by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 519,264 shares of the company's stock valued at $13,454,000 after purchasing an additional 11,633 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of CLEAR Secure by 132.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,681 shares of the company's stock worth $614,000 after acquiring an additional 13,499 shares during the period. Institutional investors own 73.80% of the company's stock.

Insiders Place Their Bets

In other CLEAR Secure news, Director Kenneth L. Cornick sold 228,374 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $25.54, for a total value of $5,832,671.96. Following the transaction, the director directly owned 149,093 shares of the company's stock, valued at approximately $3,807,835.22. This trade represents a 60.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Adam Wiener sold 5,000 shares of the business's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the director owned 207,634 shares of the company's stock, valued at approximately $6,229,020. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 965,964 shares of company stock valued at $24,388,299. 39.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stifel Nicolaus raised their target price on shares of CLEAR Secure from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday. Telsey Advisory Group reissued an "outperform" rating and issued a $32.00 target price on shares of CLEAR Secure in a research note on Wednesday. Finally, Wall Street Zen downgraded CLEAR Secure from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, CLEAR Secure has a consensus rating of "Moderate Buy" and an average price target of $32.40.

CLEAR Secure Stock Performance

Shares of NYSE:YOU opened at $29.41 on Friday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 18.38 and a beta of 1.25. The business has a 50-day simple moving average of $27.27 and a two-hundred day simple moving average of $25.74. CLEAR Secure, Inc. has a fifty-two week low of $18.23 and a fifty-two week 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 analysts' consensus estimates of $0.30 by ($0.04). CLEAR Secure had a net margin of 21.96% and a return on equity of 115.09%. The company had revenue of $211.40 million for the quarter, compared to the consensus estimate of $208.02 million. During the same quarter last year, the company earned $0.28 EPS. The firm's revenue for the quarter was up 18.1% on a year-over-year basis. As a group, research analysts predict that CLEAR Secure, Inc. will post 0.98 earnings per share for the current year.

CLEAR Secure Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 10th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, June 10th. CLEAR Secure's dividend payout ratio is 31.25%.

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.

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