Pacer Advisors Inc. Decreases Stock Position in CLEAR Secure, Inc. (NYSE:YOU)

Key Points

• Pacer Advisors Inc. decreased its position in CLEAR Secure, Inc. by 71.9% during the first quarter, selling over 2.19 million shares.
• The company reported a missed EPS of $0.26 compared to analysts' estimates of $0.30, but its quarterly revenue increased by 18.1% year-over-year.
• CLEAR Secure also announced a quarterly dividend of $0.125 per share, representing an annualized dividend of $0.50 and a yield of 1.69%.

Pacer Advisors Inc. cut its holdings in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 71.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 858,557 shares of the company's stock after selling 2,193,258 shares during the period. Pacer Advisors Inc. owned approximately 0.63% of CLEAR Secure worth $22,245,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in CLEAR Secure in the fourth quarter worth about $1,695,000. Commonwealth Equity Services LLC raised its stake in CLEAR Secure by 3.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 18,737 shares of the company's stock valued at $499,000 after purchasing an additional 612 shares during the period. American Century Companies Inc. raised its stake in CLEAR Secure by 18.1% during the 4th quarter. American Century Companies Inc. now owns 41,188 shares of the company's stock valued at $1,097,000 after purchasing an additional 6,316 shares during the period. Sei Investments Co. raised its stake in CLEAR Secure by 35.4% during the 4th quarter. Sei Investments Co. now owns 72,101 shares of the company's stock valued at $1,921,000 after purchasing an additional 18,861 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in CLEAR Secure during the 4th quarter valued at approximately $1,095,000. 73.80% of the stock is owned by hedge funds and other institutional investors.

CLEAR Secure Stock Up 0.5%

YOU traded up $0.15 during trading hours on Wednesday, reaching $29.79. 200,775 shares of the company's stock traded hands, compared to its average volume of 1,943,577. The firm has a 50-day moving average price of $27.10 and a 200 day moving average price of $25.69. CLEAR Secure, Inc. has a 52-week low of $18.23 and a 52-week high of $38.88. The firm has a market capitalization of $3.96 billion, a PE ratio of 18.61 and a beta of 1.25.

CLEAR Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.04). CLEAR Secure had a net margin of 21.96% and a return on equity of 115.09%. The business had revenue of $211.40 million for the quarter, compared to analysts' expectations of $208.02 million. During the same quarter in the previous year, the firm earned $0.28 EPS. CLEAR Secure's revenue was up 18.1% compared to the same quarter last year. Equities analysts predict that CLEAR Secure, Inc. will post 0.98 EPS for the current fiscal year.

CLEAR Secure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 10th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, June 10th. CLEAR Secure's dividend payout ratio is 31.25%.

Insider Buying and Selling at CLEAR Secure

In other CLEAR Secure news, Director Kenneth L. Cornick sold 228,374 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $25.54, for a total value of $5,832,671.96. Following the completion of the sale, the director directly owned 149,093 shares in the company, valued at approximately $3,807,835.22. This trade represents a 60.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Adam Wiener sold 5,000 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 965,964 shares of company stock valued at $24,388,299 over the last quarter. Company insiders own 39.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on YOU. Wall Street Zen downgraded CLEAR Secure from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Telsey Advisory Group reissued an "outperform" rating and set a $32.00 target price on shares of CLEAR Secure in a research note on Wednesday. Finally, Stifel Nicolaus lifted their target price on CLEAR Secure from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.40.

CLEAR Secure 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.