42,389 Shares in Clear Secure, Inc. (NYSE:YOU) Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC acquired a new stake in Clear Secure, Inc. (NYSE:YOU) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 42,389 shares of the company’s stock, valued at approximately $1,405,000.

A number of other large investors have also modified their holdings of YOU. Janus Henderson Group PLC lifted its position in shares of Clear Secure by 232.1% in the first quarter. Janus Henderson Group PLC now owns 115,282 shares of the company’s stock valued at $2,452,000 after acquiring an additional 80,569 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of Clear Secure during the second quarter worth about $840,000. AQR Capital Management LLC grew its position in Clear Secure by 68.8% in the second quarter. AQR Capital Management LLC now owns 453,262 shares of the company’s stock valued at $8,481,000 after acquiring an additional 184,795 shares in the last quarter. New York State Teachers Retirement System increased its stake in Clear Secure by 402.1% during the 3rd quarter. New York State Teachers Retirement System now owns 38,376 shares of the company’s stock worth $1,272,000 after buying an additional 30,733 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Clear Secure by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 1,214,456 shares of the company’s stock valued at $40,247,000 after purchasing an additional 73,303 shares during the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a research note on Friday. The Goldman Sachs Group lifted their price target on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Telsey Advisory Group upped their price objective on shares of Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wedbush restated a “neutral” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price target on Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Clear Secure presently has a consensus rating of “Hold” and an average price target of $32.67.

Clear Secure Stock Performance

Shares of YOU stock opened at $27.85 on Tuesday. The firm has a fifty day moving average of $33.03 and a 200-day moving average of $24.94. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 32.38 and a beta of 1.63. Clear Secure, Inc. has a 52-week low of $16.05 and a 52-week high of $38.88.

Clear Secure (NYSE:YOU) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Clear Secure had a return on equity of 43.77% and a net margin of 10.93%. The business had revenue of $198.40 million during the quarter, compared to analyst estimates of $194.62 million. Clear Secure’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. On average, sell-side analysts predict that Clear Secure, Inc. will post 1.01 earnings per share for the current year.

Clear Secure Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a yield of 1.80%. Clear Secure’s payout ratio is currently 58.14%.

Insider Buying and Selling

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $34.08, for a total value of $5,112,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Clear Secure news, Director Alclear Investments Ii, Llc sold 150,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total transaction of $5,112,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kenneth L. Cornick sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total value of $8,075,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,164,435 shares of company stock valued at $36,610,377. 37.85% of the stock is owned by corporate insiders.

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.