Richard N. Jr. Patterson Sells 7,500 Shares of Clear Secure, Inc. (NYSE:YOU) Stock

Clear Secure, Inc. (NYSE:YOU) insider Richard N. Jr. Patterson sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $22.08, for a total transaction of $165,600.00. Following the completion of the transaction, the insider now directly owns 34,227 shares in the company, valued at $755,732.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Clear Secure Stock Up 1.0 %

Shares of NYSE:YOU traded up $0.24 on Wednesday, reaching $24.42. The company had a trading volume of 3,845,176 shares, compared to its average volume of 1,513,736. The stock has a market capitalization of $3.54 billion, a P/E ratio of 43.89 and a beta of 1.58. The stock has a 50-day moving average price of $19.19 and a 200 day moving average price of $18.99. Clear Secure, Inc. has a twelve month low of $15.28 and a twelve month high of $25.72.

Clear Secure (NYSE:YOU) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $186.75 million for the quarter, compared to the consensus estimate of $183.78 million. Clear Secure had a return on equity of 20.62% and a net margin of 7.90%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. On average, sell-side analysts predict that Clear Secure, Inc. will post 0.82 earnings per share for the current fiscal year.

Clear Secure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 10th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, September 10th. Clear Secure’s payout ratio is 71.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Choreo LLC acquired a new stake in Clear Secure in the 2nd quarter valued at approximately $1,238,000. Quest Partners LLC grew its stake in shares of Clear Secure by 274.3% in the second quarter. Quest Partners LLC now owns 19,120 shares of the company’s stock worth $358,000 after acquiring an additional 14,012 shares during the last quarter. Gallacher Capital Management LLC bought a new position in Clear Secure during the second quarter worth $592,000. Foundry Partners LLC bought a new position in Clear Secure during the second quarter worth $521,000. Finally, Arizona State Retirement System raised its stake in Clear Secure by 18.1% during the 2nd quarter. Arizona State Retirement System now owns 24,816 shares of the company’s stock valued at $464,000 after purchasing an additional 3,799 shares during the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Clear Secure in a research report on Wednesday. Wedbush restated a “neutral” rating and issued a $21.00 price objective on shares of Clear Secure in a report on Wednesday, May 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Clear Secure in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Clear Secure has an average rating of “Hold” and an average price target of $28.40.

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.