Formidable Asset Management LLC Invests $442,000 in CLEAR Secure, Inc. (NYSE:YOU)

Formidable Asset Management LLC bought a new stake in CLEAR Secure, Inc. (NYSE:YOU - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,046 shares of the company's stock, valued at approximately $442,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Investment Advisory LLC purchased a new stake in CLEAR Secure in the first quarter valued at approximately $27,000. Fifth Third Bancorp raised its stake in shares of CLEAR Secure by 217.0% during the first quarter. Fifth Third Bancorp now owns 1,116 shares of the company's stock worth $29,000 after acquiring an additional 764 shares in the last quarter. Huntington National Bank purchased a new position in shares of CLEAR Secure during the fourth quarter worth approximately $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 worth $38,000 after purchasing an additional 617 shares during the last quarter. 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 worth $61,000 after purchasing an additional 2,276 shares during the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

CLEAR Secure Price Performance

NYSE:YOU traded down $0.82 during trading hours on Friday, hitting $30.35. The company had a trading volume of 1,805,777 shares, compared to its average volume of 2,088,805. The company has a market capitalization of $4.04 billion, a PE ratio of 18.97 and a beta of 1.25. The stock has a 50-day moving average price of $26.39 and a 200 day moving average price of $25.55. CLEAR Secure, Inc. has a 52 week low of $18.23 and a 52 week high of $38.88.

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 the consensus estimate of $0.30 by ($0.04). The company had revenue of $211.40 million during the quarter, compared to the consensus estimate of $208.02 million. CLEAR Secure had a net margin of 21.96% and a return on equity of 115.09%. The business's revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. Analysts anticipate that CLEAR Secure, Inc. will post 0.98 EPS for the current fiscal year.

CLEAR Secure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 10th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.65%. The ex-dividend date was Tuesday, June 10th. CLEAR Secure's dividend payout ratio (DPR) is currently 31.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Telsey Advisory Group restated an "outperform" rating and issued a $32.00 target price on shares of CLEAR Secure in a report on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of CLEAR Secure in a report on Monday, March 24th. Finally, Wall Street Zen cut shares of CLEAR Secure from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

Insider Buying and Selling at CLEAR Secure

In other CLEAR Secure news, Director Adam Wiener sold 5,000 shares of the firm's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director owned 207,634 shares of the company's stock, valued at approximately $6,229,020. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth L. Cornick sold 315,591 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $25.02, for a total value of $7,896,086.82. Following the transaction, the director directly owned 64,935 shares of the company's stock, valued at $1,624,673.70. This represents a 82.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 965,964 shares of company stock valued at $24,388,299 in the last three months. Insiders own 39.73% of the company's stock.

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.