Iridian Asset Management LLC CT Sells 12,438 Shares of CLEAR Secure, Inc. (NYSE:YOU)

Iridian Asset Management LLC CT trimmed its holdings in CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 6.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,737 shares of the company's stock after selling 12,438 shares during the period. CLEAR Secure accounts for about 1.4% of Iridian Asset Management LLC CT's holdings, making the stock its 23rd biggest holding. Iridian Asset Management LLC CT owned 0.12% of CLEAR Secure worth $4,346,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new stake in shares of CLEAR Secure in the first quarter valued at about $27,000. Fifth Third Bancorp grew its holdings in shares of 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 period. Huntington National Bank purchased a new stake in shares of CLEAR Secure in the fourth quarter valued at about $35,000. First Horizon Advisors Inc. grew its holdings 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 purchasing an additional 617 shares during the period. Finally, Strategic Investment Solutions Inc. IL grew its holdings in shares of CLEAR Secure by 113,800.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,278 shares of the company's stock valued at $61,000 after purchasing an additional 2,276 shares during the period. 73.80% of the stock is currently owned by institutional investors and hedge funds.

CLEAR Secure Trading Up 2.9%

Shares of NYSE YOU traded up $0.83 on Thursday, reaching $29.36. 1,024,737 shares of the company traded hands, compared to its average volume of 2,058,377. CLEAR Secure, Inc. has a fifty-two week low of $18.23 and a fifty-two week high of $38.88. The company has a 50 day moving average of $25.77 and a 200 day moving average of $25.44. The stock has a market capitalization of $3.91 billion, a PE ratio of 18.29 and a beta of 1.25.

CLEAR Secure (NYSE:YOU - Get Free Report) last released its quarterly earnings results 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 return on equity of 115.09% and a net margin of 21.96%. The company had revenue of $211.40 million during the quarter, compared to analysts' expectations of $208.02 million. During the same quarter in the prior year, the company earned $0.28 EPS. The firm's revenue was up 18.1% compared to the same quarter last year. As a group, research analysts expect that CLEAR Secure, Inc. will post 0.98 earnings per share for the current year.

CLEAR Secure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Tuesday, June 10th. CLEAR Secure's dividend payout ratio (DPR) is 31.25%.

Insiders Place Their Bets

In related news, Director Kenneth L. Cornick sold 315,591 shares of CLEAR Secure stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $25.02, for a total value of $7,896,086.82. Following the transaction, the director owned 64,935 shares of the company's stock, valued at approximately $1,624,673.70. This trade represents a 82.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adam Wiener sold 3,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $27.50, for a total value of $82,500.00. Following the sale, the director owned 212,634 shares of the company's stock, valued at $5,847,435. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 960,964 shares of company stock worth $24,238,299 over the last three months. Corporate insiders own 39.73% of the company's stock.

Analyst Ratings Changes

YOU has been the subject of a number of analyst reports. Telsey Advisory Group reissued an "outperform" rating and issued a $32.00 price objective on shares of CLEAR Secure in a report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 target price on shares of CLEAR Secure in a research note on Monday, March 24th. Finally, Wall Street Zen raised shares of CLEAR Secure from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

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.