Janney Montgomery Scott LLC Cuts Position in CLEAR Secure, Inc. $YOU

Key Points

• Janney Montgomery Scott LLC cut its CLEAR Secure stake by 35.4% in Q1, selling 326,412 shares and leaving it with 595,983 shares worth about $28.9 million.
• CLEAR Secure reported better-than-expected quarterly results, with EPS of $0.38 versus $0.35 expected and revenue up 19.7% year over year to $253 million.
• The company paid a quarterly dividend of $0.15 per share, while analysts currently have a consensus Moderate Buy rating with an average price target of $60.

Janney Montgomery Scott LLC reduced its position in CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 35.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,983 shares of the company's stock after selling 326,412 shares during the period. Janney Montgomery Scott LLC owned approximately 0.45% of CLEAR Secure worth $28,852,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of YOU. Durable Capital Partners LP raised its holdings in CLEAR Secure by 153.1% in the second quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company's stock valued at $207,932,000 after buying an additional 4,531,161 shares during the period. State Street Corp grew its stake in CLEAR Secure by 1.8% during the fourth quarter. State Street Corp now owns 3,312,235 shares of the company's stock worth $116,193,000 after buying an additional 59,067 shares during the period. First Trust Advisors LP grew its stake in CLEAR Secure by 1.2% during the third quarter. First Trust Advisors LP now owns 3,063,062 shares of the company's stock worth $102,245,000 after buying an additional 35,304 shares during the period. Morgan Stanley increased its position in shares of CLEAR Secure by 6.0% in the fourth quarter. Morgan Stanley now owns 2,696,837 shares of the company's stock worth $94,605,000 after acquiring an additional 152,074 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of 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 acquiring an additional 137,249 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company's stock.

CLEAR Secure Trading Up 1.4%

NYSE YOU opened at $55.93 on Tuesday. The stock has a market cap of $7.46 billion, a P/E ratio of 45.11 and a beta of 1.08. The company's fifty day simple moving average is $55.65 and its 200-day simple moving average is $45.84. CLEAR Secure, Inc. has a 52 week low of $27.23 and a 52 week high of $62.73.

CLEAR Secure (NYSE:YOU - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.03. CLEAR Secure had a net margin of 13.01% and a return on equity of 68.98%. The business had revenue of $253.00 million during the quarter, compared to analyst estimates of $244.38 million. During the same period last year, the business earned $0.26 EPS. The business's revenue was up 19.7% on a year-over-year basis. On average, research analysts expect that CLEAR Secure, Inc. will post 1.78 EPS for the current fiscal year.

CLEAR Secure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, June 10th. CLEAR Secure's payout ratio is presently 48.39%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of CLEAR Secure from a "hold" rating to a "strong-buy" rating in a report on Monday, April 20th. Wells Fargo & Company increased their price target on CLEAR Secure from $33.00 to $40.00 and gave the company an "underweight" rating in a report on Thursday, May 7th. DA Davidson reissued a "neutral" rating and issued a $60.00 price objective (down from $65.00) on shares of CLEAR Secure in a research report on Thursday, May 7th. Stifel Nicolaus set a $60.00 price objective on CLEAR Secure in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $75.00 target price on shares of CLEAR Secure in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Insider Buying and Selling

In other CLEAR Secure news, President Michael Z. Barkin sold 11,550 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was 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 in the company, valued at $1,294,332.26. This trade represents a 33.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kyle Mclaughlin sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $56.20, for a total value of $449,600.00. Following the completion of the transaction, the executive vice president directly owned 29,519 shares in the company, valued at approximately $1,658,967.80. The trade was a 21.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 23,962 shares of company stock worth $1,360,146. 39.73% of the stock is currently owned by corporate insiders.

About CLEAR Secure

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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