Clear Secure (NYSE:YOU) Shares Gap Up Following Dividend Announcement

Clear Secure, Inc. (NYSE:YOU - Get Free Report) gapped up before the market opened on Wednesday following a dividend announcement from the company. The stock had previously closed at $18.08, but opened at $18.99. Clear Secure shares last traded at $16.64, with a volume of 1,686,148 shares trading hands.

The newly announced dividend which will be paid on Tuesday, June 18th. Investors of record on Monday, June 10th will be issued a $0.10 dividend. This is an increase from Clear Secure's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, June 10th. Clear Secure's payout ratio is presently 120.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on YOU shares. Telsey Advisory Group restated an "outperform" rating and set a $34.00 price target on shares of Clear Secure in a report on Tuesday, March 26th. Wedbush restated a "neutral" rating and set a $21.00 price target on shares of Clear Secure in a report on Wednesday. Finally, Needham & Company LLC restated a "buy" rating and set a $40.00 price target on shares of Clear Secure in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $28.40.

Clear Secure Stock Performance

The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 57.27 and a beta of 1.59. The company's 50 day simple moving average is $19.17 and its two-hundred day simple moving average is $19.73.

Clear Secure (NYSE:YOU - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $170.97 million for the quarter, compared to analyst estimates of $166.56 million. Clear Secure had a net margin of 4.58% and a return on equity of 9.66%. The company's revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) EPS. On average, equities research analysts predict that Clear Secure, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Clear Secure

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total value of $150,000.00. Following the transaction, the insider now owns 41,727 shares in the company, valued at approximately $834,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 39.94% of the company's stock.

Institutional Trading of Clear Secure

Large investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. bought a new stake in Clear Secure in the fourth quarter worth approximately $1,079,000. Vanguard Group Inc. grew its position in Clear Secure by 1.6% in the third quarter. Vanguard Group Inc. now owns 9,249,449 shares of the company's stock worth $176,110,000 after acquiring an additional 143,300 shares in the last quarter. Federated Hermes Inc. grew its position in Clear Secure by 346.8% in the fourth quarter. Federated Hermes Inc. now owns 93,276 shares of the company's stock worth $1,926,000 after acquiring an additional 72,399 shares in the last quarter. Aigen Investment Management LP bought a new stake in Clear Secure in the third quarter worth approximately $192,000. Finally, Schonfeld Strategic Advisors LLC grew its position in Clear Secure by 93.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 122,300 shares of the company's stock worth $2,329,000 after acquiring an additional 58,961 shares in the last quarter. 73.80% of the stock is owned by institutional investors.

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.