CLEAR Secure, Inc. $YOU Stock Position Cut by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its CLEAR Secure stake by 8% in the first quarter, selling 289,700 shares and leaving it with about 3.35 million shares valued at roughly $162.3 million.
• CLEAR Secure’s latest quarter was strong, with EPS of $0.38 beating estimates and revenue of $253 million rising 19.7% year over year.
• The company remains heavily followed by institutions and analysts: 73.8% of shares are institutionally owned, insiders have been selling recently, and Wall Street’s consensus rating is Hold with a $59.29 price target.

Renaissance Technologies LLC decreased its stake in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,352,717 shares of the company's stock after selling 289,700 shares during the period. Renaissance Technologies LLC owned approximately 2.51% of CLEAR Secure worth $162,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in YOU. Durable Capital Partners LP lifted its stake in shares of CLEAR Secure by 153.1% in the 2nd quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company's stock worth $207,932,000 after acquiring an additional 4,531,161 shares during the period. State Street Corp increased its stake in shares of CLEAR Secure by 1.8% during the fourth quarter. State Street Corp now owns 3,312,235 shares of the company's stock valued at $116,193,000 after acquiring an additional 59,067 shares during the period. Morgan Stanley raised its holdings in CLEAR Secure by 6.0% during the fourth quarter. Morgan Stanley now owns 2,696,837 shares of the company's stock worth $94,605,000 after purchasing an additional 152,074 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in CLEAR Secure by 0.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,680,942 shares of the company's stock worth $129,784,000 after purchasing an additional 8,883 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in CLEAR Secure by 5.5% in the fourth quarter. Wellington Management Group LLP now owns 2,626,856 shares of the company's stock worth $92,150,000 after purchasing an additional 137,249 shares during the period. 73.80% of the stock is currently owned by institutional investors.

Insider Transactions at CLEAR Secure

In related news, President Michael Z. Barkin sold 11,550 shares of CLEAR Secure stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $56.29, for a total value of $650,149.50. Following the transaction, the president owned 22,994 shares of the company's stock, valued at approximately $1,294,332.26. This trade represents a 33.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Schlegel sold 4,412 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $59.02, for a total value of $260,396.24. The SEC filing for this sale provides additional information. Insiders have sold 23,962 shares of company stock valued at $1,360,146 over the last three months. Company insiders own 29.70% of the company's stock.

CLEAR Secure Stock Performance

Shares of NYSE:YOU opened at $52.03 on Friday. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 41.96 and a beta of 1.08. CLEAR Secure, Inc. has a 1-year low of $28.39 and a 1-year high of $62.73. The company has a 50 day moving average price of $55.09 and a 200 day moving average price of $48.16.

CLEAR Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. CLEAR Secure had a net margin of 13.01% and a return on equity of 68.98%. The firm had revenue of $253.00 million for the quarter, compared to analyst estimates of $244.38 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The firm's quarterly revenue was up 19.7% compared to the same quarter last year. On average, sell-side analysts expect that CLEAR Secure, Inc. will post 1.61 EPS for the current fiscal year.

CLEAR Secure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, June 10th. CLEAR Secure's payout ratio is presently 48.39%.

Analyst Ratings Changes

A number of brokerages have issued reports on YOU. Zacks Research lowered CLEAR Secure from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Telsey Advisory Group boosted their price objective on CLEAR Secure from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Needham & Company LLC upped their price objective on CLEAR Secure from $60.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Wall Street Zen raised CLEAR Secure from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $60.00 target price (down from $65.00) on shares of CLEAR Secure in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $59.29.

CLEAR Secure Company Profile

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.

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