Bank of New York Mellon Corp Sells 28,181 Shares of CLEAR Secure, Inc. (NYSE:YOU)

Bank of New York Mellon Corp decreased its stake in shares of CLEAR Secure, Inc. (NYSE:YOU) by 3.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 903,718 shares of the company’s stock after selling 28,181 shares during the period. Bank of New York Mellon Corp owned 0.66% of CLEAR Secure worth $23,415,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of YOU. Harbour Investments Inc. grew its holdings in CLEAR Secure by 23.0% during the 4th quarter. Harbour Investments Inc. now owns 2,405 shares of the company’s stock worth $64,000 after acquiring an additional 450 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of CLEAR Secure by 0.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 62,763 shares of the company’s stock valued at $1,626,000 after purchasing an additional 481 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of CLEAR Secure by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 31,661 shares of the company’s stock valued at $843,000 after purchasing an additional 509 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of CLEAR Secure by 3.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 18,737 shares of the company’s stock valued at $499,000 after acquiring an additional 612 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of CLEAR Secure by 72.0% during the 1st quarter. First Horizon Advisors Inc. now owns 1,474 shares of the company’s stock valued at $38,000 after acquiring an additional 617 shares during the period. Institutional investors own 73.80% of the company’s stock.

Insider Transactions at CLEAR Secure

In other CLEAR Secure news, Director Kenneth L. Cornick sold 315,591 shares of CLEAR Secure stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $25.02, for a total value of $7,896,086.82. Following the transaction, the director directly owned 64,935 shares in the company, valued at approximately $1,624,673.70. This trade represents a 82.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adam Wiener sold 3,000 shares of CLEAR Secure stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $27.50, for a total value of $82,500.00. Following the transaction, the director directly owned 212,634 shares of the company’s stock, valued at approximately $5,847,435. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 960,964 shares of company stock worth $24,238,299. Company insiders own 39.73% of the company’s stock.

CLEAR Secure Trading Up 5.7%

NYSE:YOU opened at $31.20 on Friday. The stock has a fifty day simple moving average of $26.26 and a 200-day simple moving average of $25.53. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 19.50 and a beta of 1.25. CLEAR Secure, Inc. has a twelve month low of $18.23 and a twelve month high of $38.88.

CLEAR Secure (NYSE:YOU) last released its earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The firm had revenue of $211.40 million for the quarter, compared to analyst estimates of $208.02 million. CLEAR Secure had a return on equity of 115.09% and a net margin of 21.96%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. As a group, equities research analysts predict that CLEAR Secure, Inc. will post 0.98 EPS for the current fiscal year.

CLEAR Secure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 10th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Tuesday, June 10th. CLEAR Secure’s dividend payout ratio is currently 31.25%.

Analyst Ratings Changes

Several research firms have weighed in on YOU. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of CLEAR Secure in a report on Monday, March 24th. Telsey Advisory Group restated an “outperform” rating and issued a $32.00 price objective on shares of CLEAR Secure in a research report on Friday, May 9th. Finally, Wall Street Zen lowered shares of CLEAR Secure from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

CLEAR Secure Company Profile

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.