CLEAR Secure (NYSE:YOU) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of CLEAR Secure (NYSE:YOU) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also commented on YOU. DA Davidson lowered their price objective on CLEAR Secure from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. JPMorgan Chase & Co. started coverage on shares of CLEAR Secure in a research report on Monday, August 24th. They set an “overweight” rating and a $55.00 price target for the company. Weiss Ratings lowered shares of CLEAR Secure from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. The Goldman Sachs Group set a $70.00 price objective on shares of CLEAR Secure in a report on Monday, July 20th. Finally, Zacks Research lowered shares of CLEAR Secure from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $59.71.

CLEAR Secure Price Performance

Shares of YOU opened at $44.12 on Friday. CLEAR Secure has a one year low of $29.43 and a one year high of $69.07. The company has a 50-day simple moving average of $50.60 and a two-hundred day simple moving average of $51.33. The firm has a market capitalization of $5.97 billion, a PE ratio of 30.01 and a beta of 1.04.

CLEAR Secure (NYSE:YOU) last posted its earnings results on Wednesday, August 5th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. The firm had revenue of $277.76 million for the quarter, compared to the consensus estimate of $269.71 million. CLEAR Secure had a return on equity of 71.51% and a net margin of 14.78%.The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. Analysts expect that CLEAR Secure will post 1.88 EPS for the current fiscal year.

CLEAR Secure Announces Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. CLEAR Secure’s dividend payout ratio (DPR) is presently 40.82%.

Insider Transactions at CLEAR Secure

In other news, President Michael Barkin sold 11,444 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $45.00, for a total transaction of $514,980.00. Following the transaction, the president directly owned 11,550 shares of the company’s stock, valued at $519,750. This represents a 49.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Dennis Liu sold 2,104 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $44.47, for a total value of $93,564.88. Following the sale, the chief accounting officer directly owned 15,870 shares in the company, valued at $705,738.90. This trade represents a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 18,047 shares of company stock worth $808,615 over the last quarter. 29.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in shares of CLEAR Secure by 5,221.7% during the second quarter. California State Teachers Retirement System now owns 5,437,910 shares of the company’s stock worth $303,055,000 after purchasing an additional 5,335,727 shares in the last quarter. Durable Capital Partners LP grew its holdings in CLEAR Secure by 153.1% during the 2nd quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock valued at $207,932,000 after buying an additional 4,531,161 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of CLEAR Secure during the second quarter valued at approximately $82,542,000. Jacobs Levy Equity Management Inc. raised its position in shares of CLEAR Secure by 6,038.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,463,717 shares of the company’s stock valued at $48,859,000 after buying an additional 1,439,873 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of CLEAR Secure by 4,573.0% in the second quarter. Squarepoint Ops LLC now owns 929,033 shares of the company’s stock worth $25,790,000 after buying an additional 909,152 shares in the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

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.