Norges Bank Makes New Investment in CLEAR Secure, Inc. $YOU

Key Points

• Norges Bank initiated a new position in CLEAR Secure, buying 840,944 shares worth about $29.5 million and owning roughly 0.63% of the company at quarter-end.
• Several institutional investors also increased their stakes, and overall hedge funds and other institutions now hold 73.8% of the stock.
• CLEAR Secure reported solid quarterly results, with EPS of $0.38 beating estimates and revenue rising 19.7% year over year; the company also announced a quarterly dividend of $0.15 per share.

Norges Bank purchased a new position in CLEAR Secure, Inc. (NYSE:YOU - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 840,944 shares of the company's stock, valued at approximately $29,500,000. Norges Bank owned approximately 0.63% of CLEAR Secure at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its stake in shares of CLEAR Secure by 14.0% during the third quarter. SBI Securities Co. Ltd. now owns 3,634 shares of the company's stock valued at $121,000 after purchasing an additional 447 shares during the period. Blue Trust Inc. boosted its stake in shares of CLEAR Secure by 13.4% during the fourth quarter. Blue Trust Inc. now owns 3,814 shares of the company's stock valued at $134,000 after purchasing an additional 451 shares during the period. California State Teachers Retirement System boosted its stake in shares of CLEAR Secure by 0.5% during the second quarter. California State Teachers Retirement System now owns 94,593 shares of the company's stock valued at $2,626,000 after purchasing an additional 508 shares during the period. Allworth Financial LP boosted its stake in shares of CLEAR Secure by 118.8% during the fourth quarter. Allworth Financial LP now owns 1,022 shares of the company's stock valued at $36,000 after purchasing an additional 555 shares during the period. Finally, Diversified Trust Co. boosted its stake in shares of CLEAR Secure by 8.1% during the fourth quarter. Diversified Trust Co. now owns 8,581 shares of the company's stock valued at $301,000 after purchasing an additional 641 shares during the period. 73.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president owned 29,519 shares in the company, valued at $1,658,967.80. This trade represents a 21.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Michael Z. Barkin sold 11,550 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were 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 in the company, valued at $1,294,332.26. This trade represents a 33.44% 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. In the last 90 days, insiders have sold 23,962 shares of company stock worth $1,360,146. Corporate insiders own 39.73% of the company's stock.

CLEAR Secure Stock Down 3.3%

YOU opened at $53.18 on Wednesday. CLEAR Secure, Inc. has a 52-week low of $24.06 and a 52-week high of $62.73. The company has a market cap of $7.09 billion, a P/E ratio of 42.88 and a beta of 1.08. The firm's 50-day moving average price is $54.99 and its 200-day moving average price is $44.09.

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

CLEAR Secure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, June 10th. CLEAR Secure's dividend payout ratio is currently 48.39%.

Wall Street Analyst Weigh In

YOU has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of CLEAR Secure from $42.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Wall Street Zen raised shares of CLEAR Secure from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. DA Davidson reaffirmed a "neutral" rating and issued a $60.00 price objective (down from $65.00) on shares of CLEAR Secure in a research note on Thursday, May 7th. Wells Fargo & Company upped their price objective on shares of CLEAR Secure from $33.00 to $40.00 and gave the stock an "underweight" rating in a research note on Thursday, May 7th. Finally, Telsey Advisory Group upped their price objective on shares of CLEAR Secure from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note 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 issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $60.00.

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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