Clear Secure (NYSE:YOU) Shares Down 4.7% After Insider Selling

Clear Secure, Inc. (NYSE:YOU)’s share price dropped 4.7% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $24.21 and last traded at $24.23. Approximately 1,228,778 shares traded hands during trading, a decline of 39% from the average daily volume of 2,020,189 shares. The stock had previously closed at $25.43.

Specifically, Director Kenneth L. Cornick sold 228,374 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $25.54, for a total transaction of $5,832,671.96. Following the sale, the director now owns 149,093 shares of the company’s stock, valued at approximately $3,807,835.22. This represents a 60.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth L. Cornick sold 122,533 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $25.51, for a total value of $3,125,816.83. Following the completion of the sale, the director now directly owns 64,935 shares in the company, valued at approximately $1,656,491.85. The trade was a 65.36% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several analysts have weighed in on YOU shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Clear Secure in a report on Monday, March 24th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Clear Secure in a report on Friday, May 9th. Finally, Stifel Nicolaus lowered their price target on Clear Secure from $32.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Clear Secure Trading Down 5.6%

The stock has a market cap of $3.29 billion, a PE ratio of 27.91 and a beta of 1.25. The firm has a fifty day simple moving average of $25.63 and a two-hundred day simple moving average of $25.64.

Clear Secure (NYSE:YOU) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.04). The firm had revenue of $211.40 million for the quarter, compared to the consensus estimate of $208.02 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. Clear Secure’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. Equities analysts forecast that Clear Secure, Inc. will post 0.98 earnings per share for the current year.

Clear Secure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 10th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.50 dividend on an annualized basis and a yield of 2.08%. Clear Secure’s dividend payout ratio (DPR) is currently 31.25%.

Hedge Funds Weigh In On Clear Secure

A number of large investors have recently bought and sold shares of YOU. Pacer Advisors Inc. increased its stake in Clear Secure by 24,161.2% in the 4th quarter. Pacer Advisors Inc. now owns 3,051,815 shares of the company’s stock worth $81,300,000 after purchasing an additional 3,039,236 shares during the period. Durable Capital Partners LP purchased a new position in Clear Secure in the 1st quarter worth approximately $76,673,000. Arrowstreet Capital Limited Partnership increased its stake in Clear Secure by 112.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,766,798 shares of the company’s stock worth $73,707,000 after purchasing an additional 1,463,748 shares during the period. Wellington Management Group LLP increased its stake in Clear Secure by 74.9% in the 4th quarter. Wellington Management Group LLP now owns 3,322,514 shares of the company’s stock worth $88,512,000 after purchasing an additional 1,422,999 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in Clear Secure in the 4th quarter worth approximately $37,697,000. 73.80% of the stock is owned by hedge funds and other institutional investors.

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.