Clear Secure, Inc. (NYSE:YOU) Sees Large Decrease in Short Interest

Clear Secure, Inc. (NYSE:YOU) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 14,210,000 shares, a decrease of 17.2% from the October 31st total of 17,160,000 shares. Based on an average trading volume of 2,400,000 shares, the days-to-cover ratio is currently 5.9 days. Currently, 18.0% of the shares of the company are short sold.

Insider Buying and Selling at Clear Secure

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were 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 accessible through this hyperlink. Also, CFO Kenneth L. Cornick sold 250,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was 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. Over the last 90 days, insiders have sold 901,500 shares of company stock valued at $29,055,829. 37.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clear Secure

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in Clear Secure by 10.9% in the third quarter. Franklin Resources Inc. now owns 46,175 shares of the company’s stock valued at $1,612,000 after purchasing an additional 4,527 shares during the period. Tidal Investments LLC purchased a new position in shares of Clear Secure in the 3rd quarter valued at about $1,026,000. Sanctuary Advisors LLC acquired a new position in shares of Clear Secure during the third quarter worth about $965,000. Virtu Financial LLC purchased a new stake in shares of Clear Secure during the third quarter worth approximately $480,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in Clear Secure in the third quarter valued at approximately $868,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

Wall Street Analyst Weigh In

YOU has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Telsey Advisory Group lifted their target price on Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wedbush reissued a “neutral” rating and issued a $26.00 price objective (up from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Clear Secure in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.67.

Clear Secure Stock Down 0.9 %

Shares of YOU stock traded down $0.23 on Friday, hitting $25.88. The company had a trading volume of 851,211 shares, compared to its average volume of 2,815,633. Clear Secure has a twelve month low of $16.05 and a twelve month high of $38.88. The firm has a market cap of $3.61 billion, a P/E ratio of 30.08 and a beta of 1.63. The company has a 50-day moving average price of $31.85 and a 200-day moving average price of $25.70.

Clear Secure (NYSE:YOU) last announced its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $198.40 million for the quarter, compared to analysts’ expectations of $194.62 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. Equities research analysts expect that Clear Secure will post 0.98 EPS 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 given a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.50 dividend on an annualized basis and a yield of 1.93%. This is an increase from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s payout ratio is currently 46.51%.

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.