Clear Secure (NYSE:YOU) Shares Gap Up After Dividend Announcement

Clear Secure, Inc. (NYSE:YOU) shares gapped up prior to trading on Wednesday following a dividend announcement from the company. The stock had previously closed at $18.08, but opened at $18.99. Clear Secure shares last traded at $16.64, with a volume of 1,686,148 shares traded.

The newly announced dividend which will be paid on Tuesday, June 18th. Investors of record on Monday, June 10th will be issued a dividend of $0.10 per share. This is an increase from Clear Secure’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.23%. Clear Secure’s payout ratio is 120.00%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on YOU. Telsey Advisory Group restated an “outperform” rating and set a $34.00 target price on shares of Clear Secure in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Clear Secure in a research note on Wednesday. Finally, Wedbush restated a “neutral” rating and set a $21.00 price target on shares of Clear Secure in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.40.

Clear Secure Trading Up 4.2 %

The company has a fifty day simple moving average of $19.14 and a 200-day simple moving average of $19.71. The company has a market capitalization of $2.84 billion, a PE ratio of 59.50 and a beta of 1.59.

Clear Secure (NYSE:YOU) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $170.97 million during the quarter, compared to analyst estimates of $166.56 million. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) earnings per share. On average, equities analysts predict that Clear Secure, Inc. will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the sale, the insider now owns 41,727 shares of the company’s stock, valued at $834,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Clear Secure

A number of large investors have recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in Clear Secure by 2.8% during the 4th quarter. Arizona State Retirement System now owns 21,143 shares of the company’s stock worth $437,000 after acquiring an additional 583 shares in the last quarter. Cornercap Investment Counsel Inc. grew its stake in shares of Clear Secure by 2.8% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 25,855 shares of the company’s stock worth $534,000 after purchasing an additional 700 shares in the last quarter. Amalgamated Bank increased its holdings in Clear Secure by 6.2% in the third quarter. Amalgamated Bank now owns 12,682 shares of the company’s stock valued at $241,000 after buying an additional 745 shares during the last quarter. New York State Common Retirement Fund raised its stake in Clear Secure by 2.7% in the third quarter. New York State Common Retirement Fund now owns 34,289 shares of the company’s stock valued at $653,000 after buying an additional 900 shares in the last quarter. Finally, Versor Investments LP lifted its holdings in Clear Secure by 2.3% during the 4th quarter. Versor Investments LP now owns 44,795 shares of the company’s stock worth $925,000 after buying an additional 1,017 shares during the last quarter. 73.80% of the stock is currently 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.