Lazard Asset Management LLC Has $4.31 Million Stock Position in Clear Secure, Inc. (NYSE:YOU)

Lazard Asset Management LLC grew its stake in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) by 39.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,891 shares of the company's stock after acquiring an additional 46,094 shares during the period. Lazard Asset Management LLC owned 0.12% of Clear Secure worth $4,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in Clear Secure by 24,161.2% in the fourth quarter. Pacer Advisors Inc. now owns 3,051,815 shares of the company's stock worth $81,300,000 after purchasing an additional 3,039,236 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Clear Secure by 112.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,766,798 shares of the company's stock worth $73,707,000 after purchasing an additional 1,463,748 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Clear Secure by 74.9% in the fourth quarter. Wellington Management Group LLP now owns 3,322,514 shares of the company's stock worth $88,512,000 after purchasing an additional 1,422,999 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Clear Secure in the fourth quarter worth $37,697,000. Finally, Copeland Capital Management LLC bought a new stake in Clear Secure in the fourth quarter worth $30,724,000. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Clear Secure news, Director Kenneth L. Cornick sold 291,466 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $25.05, for a total value of $7,301,223.30. Following the completion of the sale, the director now owns 64,935 shares in the company, valued at approximately $1,626,621.75. This trade represents a 81.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 39.73% of the company's stock.

Clear Secure Price Performance

Shares of NYSE YOU traded up $0.32 during trading hours on Wednesday, hitting $25.49. 400,702 shares of the company's stock were exchanged, compared to its average volume of 2,014,784. Clear Secure, Inc. has a 1-year low of $16.48 and a 1-year high of $38.88. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 29.60 and a beta of 1.25. The company's 50-day moving average price is $25.69 and its 200-day moving average price is $25.79.

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 for the quarter, missing the consensus estimate of $0.30 by ($0.04). Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The business had revenue of $211.40 million for the quarter, compared to analyst estimates of $208.02 million. During the same period in the prior year, the firm posted $0.28 EPS. Clear Secure's revenue for the quarter was up 18.1% on a year-over-year basis. On average, research analysts expect that Clear Secure, Inc. will post 0.98 earnings per share for the current year.

Clear Secure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 10th will be given a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.96%. Clear Secure's dividend payout ratio is currently 31.25%.

Analysts Set New Price Targets

YOU has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on shares of Clear Secure from $32.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $45.00 price objective on shares of Clear Secure in a report on Monday, March 24th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $32.00 target price on shares of Clear Secure in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

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.