CLEAR Secure, Inc. $YOU Shares Sold by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management cut its CLEAR Secure stake by 61% in the third quarter, selling 39,619 shares and retaining 25,322 shares valued at approximately $1.06 million. Institutional investors collectively own 73.8% of the company.
• CLEAR Secure insiders sold 18,047 shares worth about $808,615 over the past three months, including sales by executives Kyle McLaughlin and Michael Barkin under pre-arranged Rule 10b5-1 plans.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $58.29, while recent quarterly results exceeded expectations with earnings of $0.49 per share and revenue of $277.76 million.

Smith Group Asset Management LLC lessened its holdings in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 61.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,322 shares of the company's stock after selling 39,619 shares during the quarter. Smith Group Asset Management LLC's holdings in CLEAR Secure were worth $1,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in YOU. Arrowstreet Capital Limited Partnership increased its holdings in shares of CLEAR Secure by 0.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,680,942 shares of the company's stock valued at $129,784,000 after acquiring an additional 8,883 shares during the last quarter. Congress Asset Management Co. acquired a new stake in CLEAR Secure in the 3rd quarter valued at approximately $78,843,000. Copeland Capital Management LLC grew its holdings in CLEAR Secure by 4.7% in the 3rd quarter. Copeland Capital Management LLC now owns 1,761,051 shares of the company's stock valued at $73,876,000 after buying an additional 78,553 shares during the last quarter. Dimensional Fund Advisors LP increased its position in CLEAR Secure by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,711,291 shares of the company's stock worth $82,848,000 after buying an additional 40,880 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in CLEAR Secure in the 2nd quarter worth approximately $82,542,000. Institutional investors own 73.80% of the company's stock.

Insider Activity

In other news, EVP Kyle McLaughlin sold 4,499 shares of CLEAR Secure stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $44.47, for a total transaction of $200,070.53. Following the sale, the executive vice president directly owned 29,519 shares in the company, valued at approximately $1,312,709.93. The trade was a 13.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Barkin sold 11,444 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $45.00, for a total transaction of $514,980.00. Following the completion of the sale, the president directly owned 11,550 shares in the company, valued at approximately $519,750. The trade was a 49.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 18,047 shares of company stock worth $808,615. Corporate insiders own 29.70% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on YOU. DA Davidson reduced their price objective on CLEAR Secure from $55.00 to $45.00 and set a "neutral" rating for the company in a research report on Friday, September 11th. Zacks Research lowered shares of CLEAR Secure from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. The Goldman Sachs Group set a $70.00 target price on shares of CLEAR Secure in a research note on Monday, July 20th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price target on shares of CLEAR Secure in a report on Wednesday, October 7th. Finally, Wall Street Zen downgraded shares of CLEAR Secure from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 5th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, CLEAR Secure has an average rating of "Hold" and an average price target of $58.29.

CLEAR Secure Trading Down 0.3%

Shares of NYSE YOU opened at $45.38 on Thursday. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 30.87 and a beta of 1.01. CLEAR Secure, Inc. has a one year low of $30.23 and a one year high of $69.07. The business has a fifty day simple moving average of $42.84 and a 200 day simple moving average of $47.37.

CLEAR Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.09. The firm had revenue of $277.76 million for the quarter, compared to the consensus estimate of $269.71 million. CLEAR Secure had a net margin of 14.78% and a return on equity of 71.51%. The business's revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, research analysts anticipate that CLEAR Secure, Inc. will post 1.88 earnings per share for the current fiscal year.

CLEAR Secure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Thursday, September 10th. CLEAR Secure's dividend payout ratio (DPR) is presently 40.82%.

CLEAR Secure Profile

CLEAR Secure, Inc provides identity verification and secure access services through its CLEAR platform. The company uses biometric authentication and other identity technologies to help verify individuals and streamline access to participating locations and services.

Its consumer offerings include CLEAR Plus, a membership service that allows enrolled members to verify their identities at participating airports, and CLEAR Reserve, which enables travelers to reserve a time to proceed through select airport security checkpoints.

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