CLEAR Secure, Inc. (NYSE:YOU) Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. significantly increased its stake in CLEAR Secure, Inc. by 84.3% during the first quarter, owning 18,891 shares valued at $489,000.
• Insiders at CLEAR Secure, including Director Adam Wiener, have sold a combined 383,907 shares worth about $10 million over the past 90 days, leading to a decrease in their ownership percentage to 39.73%.
• Equities analysts have mixed ratings for CLEAR Secure, with target price adjustments ranging from $25.00 to $37.00, indicating potential growth, while the stock is currently rated as a "Hold" with an average price target of $33.00.

PNC Financial Services Group Inc. lifted its position in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 84.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,891 shares of the company's stock after acquiring an additional 8,642 shares during the quarter. PNC Financial Services Group Inc.'s holdings in CLEAR Secure were worth $489,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of YOU. Harbor Investment Advisory LLC purchased a new position in CLEAR Secure in the 1st quarter valued at approximately $27,000. Fifth Third Bancorp grew its holdings in CLEAR Secure by 217.0% in the first quarter. Fifth Third Bancorp now owns 1,116 shares of the company's stock valued at $29,000 after purchasing an additional 764 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of CLEAR Secure by 72.0% in the first quarter. First Horizon Advisors Inc. now owns 1,474 shares of the company's stock valued at $38,000 after buying an additional 617 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its position in shares of CLEAR Secure by 113,800.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,278 shares of the company's stock worth $61,000 after buying an additional 2,276 shares in the last quarter. Finally, Natixis acquired a new stake in CLEAR Secure in the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 73.80% of the company's stock.

Insiders Place Their Bets

In other CLEAR Secure news, Director Adam Wiener sold 5,000 shares of CLEAR Secure stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the transaction, the director owned 207,634 shares in the company, valued at $6,229,020. This trade represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Dennis W. Liu sold 5,000 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $33.60, for a total transaction of $168,000.00. Following the sale, the chief accounting officer directly owned 13,923 shares of the company's stock, valued at $467,812.80. This represents a 26.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 383,907 shares of company stock worth $10,015,189 over the last 90 days. Corporate insiders own 39.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of CLEAR Secure from $23.00 to $25.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group lifted their price objective on CLEAR Secure from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered CLEAR Secure from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Stifel Nicolaus raised their price target on CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Finally, Telsey Advisory Group boosted their price target on CLEAR Secure from $32.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $33.00.

CLEAR Secure Stock Performance

YOU stock opened at $34.13 on Thursday. The company has a 50 day moving average price of $28.55 and a two-hundred day moving average price of $26.15. The stock has a market capitalization of $4.54 billion, a P/E ratio of 21.33 and a beta of 1.25. CLEAR Secure, Inc. has a one year low of $21.67 and a one year high of $38.88.

CLEAR Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. CLEAR Secure had a return on equity of 122.69% and a net margin of 21.17%. The business had revenue of $219.47 million for the quarter, compared to analysts' expectations of $214.90 million. During the same quarter last year, the firm earned $0.34 earnings per share. The business's revenue was up 17.6% on a year-over-year basis. Research analysts forecast that CLEAR Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

CLEAR Secure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 10th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.50 annualized dividend and a yield of 1.5%. CLEAR Secure's payout ratio is 31.25%.

About CLEAR Secure

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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