New Age Alpha Advisors LLC Sells 123,274 Shares of CLEAR Secure, Inc. (NYSE:YOU)

Key Points

• New Age Alpha Advisors LLC significantly reduced its stake in CLEAR Secure by 97.9%, owning only 2,633 shares after selling 123,274 shares in the first quarter.
• Despite the reduction, other institutional investors like PNC Financial Services Group and Jefferies Financial Group increased their positions, with Jefferies seeing a 2,000.1% jump, now holding 450,297 shares.
• CLEAR Secure recently announced a quarterly dividend of $0.125 per share, with an ex-dividend date of September 10th, yielding approximately 1.6%.

New Age Alpha Advisors LLC trimmed its position in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 97.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,633 shares of the company's stock after selling 123,274 shares during the quarter. New Age Alpha Advisors LLC's holdings in CLEAR Secure were worth $68,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of YOU. Robeco Institutional Asset Management B.V. raised its position in CLEAR Secure by 0.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 62,763 shares of the company's stock worth $1,626,000 after acquiring an additional 481 shares during the period. First Horizon Advisors Inc. grew its position in shares of CLEAR Secure by 72.0% during the 1st quarter. First Horizon Advisors Inc. now owns 1,474 shares of the company's stock valued at $38,000 after acquiring an additional 617 shares during the period. Fifth Third Bancorp increased its stake in shares of CLEAR Secure by 217.0% during the 1st quarter. Fifth Third Bancorp now owns 1,116 shares of the company's stock worth $29,000 after purchasing an additional 764 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of CLEAR Secure in the 1st quarter worth approximately $27,000. Finally, Tidal Investments LLC lifted its stake in CLEAR Secure by 3.5% in the fourth quarter. Tidal Investments LLC now owns 32,057 shares of the company's stock valued at $854,000 after purchasing an additional 1,098 shares during the last quarter. 73.80% of the stock is currently owned by institutional investors.

CLEAR Secure Stock Down 1.0%

Shares of NYSE:YOU traded down $0.34 during midday trading on Thursday, reaching $33.78. 1,037,151 shares of the company traded hands, compared to its average volume of 1,953,092. The firm's fifty day moving average price is $28.55 and its two-hundred day moving average price is $26.15. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 21.11 and a beta of 1.25. CLEAR Secure, Inc. has a 12 month low of $21.67 and a 12 month high of $38.88.

CLEAR Secure (NYSE:YOU - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. CLEAR Secure had a return on equity of 122.69% and a net margin of 21.17%. The firm had revenue of $219.47 million for the quarter, compared to analysts' expectations of $214.90 million. During the same period in the prior year, the business posted $0.34 earnings per share. The company's revenue was up 17.6% on a year-over-year basis. Analysts forecast that CLEAR Secure, Inc. will post 0.98 earnings per share for the current year.

CLEAR Secure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, September 10th. CLEAR Secure's payout ratio is 31.25%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on YOU. Telsey Advisory Group raised their target price on CLEAR Secure from $32.00 to $37.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Stifel Nicolaus increased their price target on CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group boosted their price objective on CLEAR Secure from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of CLEAR Secure from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Wells Fargo & Company lifted their target price on shares of CLEAR Secure from $23.00 to $25.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, CLEAR Secure has a consensus rating of "Hold" and an average price target of $33.00.

Insider Activity

In related news, Director Adam Wiener sold 5,000 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the director owned 207,634 shares in the company, 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 is accessible through the SEC website. Also, CAO Dennis W. Liu sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $33.60, for a total value of $168,000.00. Following the transaction, the chief accounting officer owned 13,923 shares of the company's stock, valued at approximately $467,812.80. The trade was a 26.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 383,907 shares of company stock valued at $10,015,189 over the last 90 days. Company insiders own 39.73% of the company's stock.

About CLEAR Secure

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.