Entropy Technologies LP Makes New Investment in Clear Secure, Inc. (NYSE:YOU)

Entropy Technologies LP bought a new stake in Clear Secure, Inc. (NYSE:YOU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,018 shares of the company’s stock, valued at approximately $895,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Clear Secure by 11.7% in the first quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock valued at $224,866,000 after purchasing an additional 1,111,330 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Clear Secure by 56.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock valued at $55,271,000 after buying an additional 1,066,400 shares during the period. Rice Hall James & Associates LLC boosted its stake in shares of Clear Secure by 303.6% in the second quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock valued at $22,445,000 after buying an additional 902,436 shares in the last quarter. Marshall Wace LLP grew its holdings in Clear Secure by 278.3% during the second quarter. Marshall Wace LLP now owns 1,099,062 shares of the company’s stock worth $20,563,000 after acquiring an additional 808,515 shares during the period. Finally, Millennium Management LLC raised its position in Clear Secure by 56.3% in the second quarter. Millennium Management LLC now owns 2,103,578 shares of the company’s stock worth $39,358,000 after acquiring an additional 757,528 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

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 firm has a 50 day simple moving average of $32.99 and a 200-day simple moving average of $25.01. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 30.78 and a beta of 1.63.

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%.

Analyst Ratings Changes

A number of research firms have recently weighed in on YOU. Wedbush reaffirmed a “neutral” rating and set a $26.00 price target (up from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Telsey Advisory Group upped their target price on shares of Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Clear Secure in a research report on Friday, November 8th. Stifel Nicolaus upped their price target on Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, The Goldman Sachs Group lifted their price objective on Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. 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 news, Director Alclear Investments Ii, Llc sold 227,021 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $7,049,002.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael Z. Barkin sold 25,000 shares of the company’s stock in a transaction 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 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.