Great Lakes Advisors LLC Purchases Shares of 23,851 CLEAR Secure, Inc. $YOU

Key Points

• Great Lakes Advisors acquired 23,851 CLEAR Secure shares worth approximately $1.33 million, while institutional investors collectively own 73.8% of the company.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” and an average price target of $58.57, despite several firms raising their targets.
• CLEAR Secure exceeded quarterly expectations with $0.49 in EPS and $277.76 million in revenue, up 26.6% year over year; it also declared a quarterly dividend of $0.15 per share. Two executives sold shares under pre-arranged trading plans.

Great Lakes Advisors LLC acquired a new position in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,851 shares of the company's stock, valued at approximately $1,329,000.

A number of other institutional investors also recently made changes to their positions in YOU. Geneos Wealth Management Inc. increased its stake in shares of CLEAR Secure by 329.5% during the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock worth $25,000 after purchasing an additional 748 shares during the period. Advisors Asset Management Inc. acquired a new stake in CLEAR Secure during the 1st quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd boosted its stake in CLEAR Secure by 249.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 867 shares of the company's stock valued at $30,000 after purchasing an additional 619 shares during the period. Parallel Advisors LLC boosted its stake in CLEAR Secure by 2,283.3% in the 1st quarter. Parallel Advisors LLC now owns 715 shares of the company's stock valued at $35,000 after purchasing an additional 685 shares during the period. Finally, Allworth Financial LP grew its holdings in CLEAR Secure by 118.8% in the 4th quarter. Allworth Financial LP now owns 1,022 shares of the company's stock valued at $36,000 after buying an additional 555 shares in the last quarter. Institutional investors own 73.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on YOU shares. Wall Street Zen raised CLEAR Secure from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Wells Fargo & Company upped their price target on shares of CLEAR Secure from $33.00 to $40.00 and gave the company an "underweight" rating in a research note on Thursday, May 7th. Telsey Advisory Group raised their price target on shares of CLEAR Secure from $62.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Zacks Research cut shares of CLEAR Secure from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Needham & Company LLC boosted their price objective on shares of CLEAR Secure from $60.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Five equities research 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. Based on data from MarketBeat, CLEAR Secure has a consensus rating of "Hold" and an average target price of $58.57.

Insider Activity

In other news, President Michael Z. Barkin sold 11,550 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $56.29, for a total transaction of $650,149.50. Following the completion of the sale, the president owned 22,994 shares of the company's stock, valued at approximately $1,294,332.26. This represents a 33.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kyle Mclaughlin sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $56.20, for a total transaction of $449,600.00. Following the sale, the executive vice president owned 29,519 shares in the company, valued at $1,658,967.80. This represents a 21.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.70% of the stock is owned by company insiders.

CLEAR Secure Price Performance

CLEAR Secure stock opened at $43.29 on Friday. The firm has a market cap of $5.86 billion, a PE ratio of 29.45 and a beta of 1.06. The stock's fifty day moving average price is $52.49 and its two-hundred day moving average price is $50.32. CLEAR Secure, Inc. has a one year low of $29.43 and a one year high of $69.07.

CLEAR Secure (NYSE:YOU - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. The firm had revenue of $277.76 million during the quarter, compared to the consensus estimate of $269.71 million. CLEAR Secure had a return on equity of 71.51% and a net margin of 14.78%.The company's revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. Sell-side analysts expect that CLEAR Secure, Inc. will post 1.71 earnings per share for the current fiscal year.

CLEAR Secure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, September 10th. CLEAR Secure's dividend payout ratio is presently 40.82%.

CLEAR Secure 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.

Want to see what other hedge funds are holding YOU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CLEAR Secure, Inc. (NYSE:YOU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source