CLEAR Secure (NYSE:YOU) Shares Gap Down – What’s Next?
by Doug Wharley · The Cerbat GemShares of CLEAR Secure, Inc. (NYSE:YOU – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $41.58, but opened at $39.94. CLEAR Secure shares last traded at $40.8270, with a volume of 239,843 shares traded.
Analysts Set New Price Targets
A number of research firms have recently issued reports on YOU. DA Davidson lowered their price objective on CLEAR Secure from $55.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday. Wall Street Zen cut CLEAR Secure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. The Goldman Sachs Group set a $70.00 price target on shares of CLEAR Secure in a research note on Monday, July 20th. Weiss Ratings lowered shares of CLEAR Secure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 4th. Finally, Zacks Research cut shares of CLEAR Secure from a “strong-buy” rating to a “hold” rating in a research note 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 given a Sell rating to the company. Based on data from MarketBeat.com, CLEAR Secure has a consensus rating of “Hold” and a consensus price target of $58.29.
Get Our Latest Research Report on CLEAR Secure
CLEAR Secure Price Performance
The business’s 50 day simple moving average is $49.07 and its 200 day simple moving average is $51.62. The stock has a market cap of $5.51 billion, a P/E ratio of 27.67 and a beta of 1.04.
CLEAR Secure (NYSE:YOU – Get Free Report) last released its quarterly earnings data 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 return on equity of 71.51% and a net margin of 14.78%.The company had revenue of $277.76 million for the quarter, compared to analyst estimates of $269.71 million. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. Research analysts predict that CLEAR Secure, Inc. will post 1.88 earnings per share for the current year.
CLEAR Secure Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.60 annualized dividend and a yield of 1.5%. CLEAR Secure’s payout ratio is currently 40.82%.
Insider Buying and Selling at CLEAR Secure
In other CLEAR Secure 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 value of $514,980.00. Following the sale, the president directly owned 11,550 shares in the company, valued at $519,750. This represents a 49.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $44.47, for a total value of $93,564.88. Following the transaction, the chief accounting officer owned 15,870 shares of the company’s stock, valued at $705,738.90. This 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 have sold 18,047 shares of company stock worth $808,615 over the last three months. Company insiders own 29.70% of the company’s stock.
Institutional Investors Weigh In On CLEAR Secure
Hedge funds have recently made changes to their positions in the company. One Capital Management LLC acquired a new position in CLEAR Secure during the 4th quarter worth $1,270,000. Ashford Capital Management Inc. increased its stake in shares of CLEAR Secure by 97.5% in the 1st quarter. Ashford Capital Management Inc. now owns 533,268 shares of the company’s stock valued at $25,816,000 after buying an additional 263,218 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of CLEAR Secure by 260.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 879,039 shares of the company’s stock valued at $30,837,000 after buying an additional 635,400 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of CLEAR Secure during the second quarter worth $82,542,000. Finally, Future Fund LLC bought a new stake in shares of CLEAR Secure during the fourth quarter worth $1,270,000. Institutional investors and hedge funds own 73.80% of the company’s stock.
CLEAR Secure Company Profile
Clear Secure, Inc, operating under the CLEAR brand, is an identity technology company that provides secure, biometric-enabled services for verifying individuals. Its platform uses information such as biometrics and government-issued identification to create a reusable identity profile, helping members move through participating locations more efficiently while supporting organizations with identity verification and access control.
The company’s consumer offering includes CLEAR Plus, a membership service that allows eligible travelers to use dedicated identity-verification lanes at participating airports.