Public Sector Pension Investment Board Boosts Stock Holdings in CLEAR Secure, Inc. (NYSE:YOU)

Key Points

• The Public Sector Pension Investment Board increased its stake in CLEAR Secure, Inc. by 52.1% in Q1, owning 356,218 shares valued at approximately $9.23 million.
• CLEAR Secure reported a quarterly earnings per share (EPS) of $0.26, beating estimates by $0.03, and achieved a revenue of $219.47 million, a 17.6% increase year-over-year.
• The company announced a quarterly dividend of $0.125 per share, with an ex-dividend date on September 10, reflecting a 1.5% dividend yield.

Public Sector Pension Investment Board boosted its position in CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 52.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,218 shares of the company's stock after buying an additional 121,962 shares during the period. Public Sector Pension Investment Board owned approximately 0.26% of CLEAR Secure worth $9,230,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in CLEAR Secure by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 53,097 shares of the company's stock worth $1,415,000 after acquiring an additional 8,254 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in CLEAR Secure by 784.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 186,320 shares of the company's stock worth $4,964,000 after acquiring an additional 165,251 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in CLEAR Secure by 66,141.7% in the fourth quarter. Russell Investments Group Ltd. now owns 15,898 shares of the company's stock worth $424,000 after acquiring an additional 15,874 shares in the last quarter. Bank of Montreal Can boosted its holdings in CLEAR Secure by 18.3% in the fourth quarter. Bank of Montreal Can now owns 10,839 shares of the company's stock worth $289,000 after acquiring an additional 1,678 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in CLEAR Secure by 3.8% in the fourth quarter. Invesco Ltd. now owns 559,451 shares of the company's stock worth $14,904,000 after acquiring an additional 20,441 shares in the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Dennis W. Liu sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $33.60, for a total value of $168,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Michael Z. Barkin sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $32.81, for a total value of $656,200.00. Following the completion of the transaction, the president owned 12,725 shares in the company, valued at approximately $417,507.25. The trade was a 61.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 383,907 shares of company stock valued at $10,015,189. Insiders own 39.73% of the company's stock.

CLEAR Secure Trading Down 0.7%

Shares of YOU stock traded down $0.25 during trading on Friday, hitting $33.54. The company's stock had a trading volume of 1,544,351 shares, compared to its average volume of 1,673,082. The company has a market cap of $4.46 billion, a PE ratio of 20.96 and a beta of 1.25. The business has a fifty day moving average of $28.85 and a 200-day moving average of $26.30. CLEAR Secure, Inc. has a 52 week low of $21.67 and a 52 week high of $38.88.

CLEAR Secure (NYSE:YOU - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $219.47 million during the quarter, compared to analyst estimates of $214.90 million. CLEAR Secure had a return on equity of 122.69% and a net margin of 21.17%. CLEAR Secure's quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. As a group, research analysts predict that CLEAR Secure, Inc. will post 0.98 EPS for the current year.

CLEAR Secure Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on YOU. Telsey Advisory Group increased 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. The Goldman Sachs Group boosted their price objective on CLEAR Secure from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wells Fargo & Company boosted their price objective on CLEAR Secure from $23.00 to $25.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Wall Street Zen lowered CLEAR Secure from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Stifel Nicolaus boosted their price objective on CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, CLEAR Secure has a consensus rating of "Hold" and a consensus target price of $33.00.

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.