Clear Secure (NYSE:YOU) Rating Reiterated by Wedbush

Wedbush reaffirmed their neutral rating on shares of Clear Secure (NYSE:YOU) in a report published on Wednesday, Benzinga reports. Wedbush currently has a $21.00 target price on the stock.

A number of other research analysts have also issued reports on the stock. Telsey Advisory Group reiterated an outperform rating and set a $34.00 price target on shares of Clear Secure in a research note on Tuesday, March 26th. Needham & Company LLC restated a buy rating and issued a $40.00 price objective on shares of Clear Secure in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Clear Secure currently has a consensus rating of Hold and an average price target of $28.40.

Clear Secure Stock Up 4.2 %

YOU stock traded up $0.72 during trading on Wednesday, hitting $17.90. The company had a trading volume of 3,100,127 shares, compared to its average volume of 1,598,178. Clear Secure has a 1-year low of $15.28 and a 1-year high of $27.75. The firm has a 50-day moving average price of $19.14 and a 200-day moving average price of $19.71. The firm has a market cap of $2.84 billion, a PE ratio of 59.50 and a beta of 1.59.

Clear Secure (NYSE:YOU) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The business had revenue of $170.97 million during the quarter, compared to analysts’ expectations of $166.56 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. Sell-side analysts anticipate that Clear Secure will post 0.54 earnings per share for the current year.

Clear Secure Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th will be issued a $0.10 dividend. The ex-dividend date is Monday, June 10th. This is a boost from Clear Secure’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 2.23%. Clear Secure’s dividend payout ratio (DPR) is 120.00%.

Insider Buying and Selling at Clear Secure

In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the transaction, the insider now directly owns 41,727 shares of the company’s stock, valued at approximately $834,540. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 39.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of YOU. SG Americas Securities LLC purchased a new position in shares of Clear Secure during the 3rd quarter worth approximately $214,000. Bank of New York Mellon Corp grew its stake in Clear Secure by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 340,890 shares of the company’s stock worth $6,491,000 after acquiring an additional 8,858 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Clear Secure by 23.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,524 shares of the company’s stock worth $277,000 after acquiring an additional 2,780 shares during the period. Mackenzie Financial Corp purchased a new stake in Clear Secure in the 3rd quarter worth approximately $538,000. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Clear Secure by 50.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 235,769 shares of the company’s stock worth $4,489,000 after acquiring an additional 79,217 shares during the period. 73.80% of the stock is owned by hedge funds and other institutional investors.

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.