Entropy Technologies LP Acquires New Stake in Clear Secure, Inc. (NYSE:YOU)

Entropy Technologies LP acquired a new position in shares of Clear Secure, Inc. (NYSE:YOU) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 27,018 shares of the company’s stock, valued at approximately $895,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Clear Secure by 11.7% during the first quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock worth $224,866,000 after purchasing an additional 1,111,330 shares in the last quarter. Renaissance Technologies LLC increased its position in Clear Secure by 56.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock worth $55,271,000 after purchasing an additional 1,066,400 shares during the period. Millennium Management LLC raised its stake in shares of Clear Secure by 56.3% during the 2nd quarter. Millennium Management LLC now owns 2,103,578 shares of the company’s stock worth $39,358,000 after buying an additional 757,528 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of Clear Secure by 14.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,374,670 shares of the company’s stock valued at $45,557,000 after buying an additional 175,021 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of 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 buying an additional 73,303 shares in the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

Clear Secure Price Performance

Shares of YOU opened at $26.47 on Thursday. Clear Secure, Inc. has a 1-year low of $16.05 and a 1-year high of $38.88. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 30.78 and a beta of 1.63. The firm has a 50 day simple moving average of $32.99 and a 200-day simple moving average of $25.01.

Clear Secure (NYSE:YOU) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.03). Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The company had revenue of $198.40 million for the quarter, compared to analysts’ expectations of $194.62 million. During the same period in the previous year, the business posted $0.20 EPS. The business’s quarterly revenue was up 23.7% on a year-over-year basis. On average, equities analysts expect that Clear Secure, Inc. will post 1.01 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The company 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 $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.89%. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, December 10th. Clear Secure’s dividend payout ratio is 46.51%.

Wall Street Analyst Weigh In

A number of research firms have commented on YOU. Stifel Nicolaus raised their target price on Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a report on Monday, October 28th. Telsey Advisory Group boosted 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Clear Secure in a report on Friday, November 8th. The Goldman Sachs Group boosted their price target on Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $26.00 price objective (up from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.67.

Insiders Place Their Bets

In other news, Director Michael Z. Barkin sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $28.64, for a total value of $716,000.00. Following the completion of the transaction, the director now owns 7,056 shares of the company’s stock, valued at $202,083.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Clear Secure news, Director Michael Z. Barkin sold 25,000 shares of Clear Secure stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $28.64, for a total value of $716,000.00. Following the completion of the sale, the director now directly owns 7,056 shares of the company’s stock, valued at approximately $202,083.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alclear Investments Ii, Llc sold 227,021 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $7,049,002.05. The disclosure for this sale can be found here. Insiders have sold 1,006,435 shares of company stock valued at $32,173,077 in the last ninety days. Insiders own 37.85% of the company’s stock.

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.