CLEAR Secure (NYSE:YOU) Stock Price Down 6.2% – Should You Sell?

CLEAR Secure, Inc. (NYSE:YOU) shares fell 6.2% during mid-day trading on Tuesday . The stock traded as low as $48.09 and last traded at $48.0460. Approximately 805,821 shares were traded during trading, a decline of 50% from the average daily volume of 1,599,135 shares. The stock had previously closed at $51.21.

Analyst Ratings Changes

YOU has been the subject of a number of recent research reports. The Goldman Sachs Group set a $70.00 target price on shares of CLEAR Secure in a research report on Monday, July 20th. Stifel Nicolaus set a $60.00 price target on shares of CLEAR Secure in a research report on Thursday, May 7th. Zacks Research cut shares of CLEAR Secure from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings raised shares of CLEAR Secure from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Wall Street Zen upgraded CLEAR Secure from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.57.

CLEAR Secure Stock Performance

The business has a 50 day simple moving average of $54.06 and a 200-day simple moving average of $49.75. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 32.95 and a beta of 1.06.

CLEAR Secure (NYSE:YOU) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.09. CLEAR Secure had a net margin of 14.78% and a return on equity of 71.51%. The firm had revenue of $277.76 million for the quarter, compared to analysts’ expectations of $269.71 million. During the same quarter in the previous year, the company posted $0.26 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. Equities analysts predict that CLEAR Secure, Inc. will post 1.61 earnings per share for the current fiscal year.

CLEAR Secure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, September 10th. CLEAR Secure’s payout ratio is presently 40.82%.

Insider Activity

In related news, EVP Kyle Mclaughlin sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $56.20, for a total value of $449,600.00. Following the transaction, the executive vice president directly owned 29,519 shares in the company, valued at approximately $1,658,967.80. This represents a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Schlegel sold 4,412 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $59.02, for a total value of $260,396.24. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,962 shares of company stock valued at $1,360,146 in the last 90 days. Company insiders own 29.70% of the company’s stock.

Hedge Funds Weigh In On CLEAR Secure

Several large investors have recently modified their holdings of the business. Abacus FCF Advisors LLC purchased a new position in shares of CLEAR Secure during the 2nd quarter worth $3,033,000. Great Lakes Advisors LLC acquired a new position in CLEAR Secure in the second quarter valued at about $1,329,000. Foster & Motley Inc. acquired a new position in CLEAR Secure in the second quarter valued at about $1,446,000. Plato Investment Management Ltd purchased a new position in CLEAR Secure during the second quarter worth about $285,000. Finally, Bank of New York Mellon Corp purchased a new position in CLEAR Secure during the second quarter worth about $47,722,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

CLEAR Secure Company Profile

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.