Clear Secure, Inc. (NYSE:YOU) Stake Lessened by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC trimmed its stake in shares of Clear Secure, Inc. (NYSE:YOU) by 22.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,600 shares of the company’s stock after selling 10,270 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Clear Secure were worth $1,147,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in YOU. Montag A & Associates Inc. bought a new position in shares of Clear Secure during the first quarter worth about $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Clear Secure during the second quarter valued at approximately $26,000. Future Financial Wealth Managment LLC bought a new position in Clear Secure during the 3rd quarter worth approximately $33,000. Plato Investment Management Ltd grew its position in shares of Clear Secure by 10,535.4% in the 2nd quarter. Plato Investment Management Ltd now owns 5,105 shares of the company’s stock worth $96,000 after acquiring an additional 5,057 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Clear Secure in the 3rd quarter worth approximately $105,000. 73.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Clear Secure

In other Clear Secure news, Director Alclear Investments Ii, Llc sold 150,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total transaction of $5,112,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $22.08, for a total value of $165,600.00. Following the completion of the transaction, the insider now directly owns 34,227 shares in the company, valued at $755,732.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alclear Investments Ii, Llc sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $34.08, for a total value of $5,112,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,173,935 shares of company stock worth $36,826,532 in the last three months. 37.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC raised their price objective on Clear Secure from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Clear Secure in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.20.

Clear Secure Stock Performance

YOU stock opened at $37.31 on Friday. Clear Secure, Inc. has a 1 year low of $16.05 and a 1 year high of $37.90. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 47.83 and a beta of 1.65. The stock’s fifty day moving average is $30.77 and its two-hundred day moving average is $22.97.

Clear Secure (NYSE:YOU) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. Clear Secure had a net margin of 10.36% and a return on equity of 35.33%. The firm had revenue of $186.75 million for the quarter, compared to the consensus estimate of $183.78 million. During the same period last year, the firm posted $0.05 EPS. Clear Secure’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, analysts predict that Clear Secure, Inc. will post 1.01 EPS for the current fiscal year.

Clear Secure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 10th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, September 10th. Clear Secure’s dividend payout ratio (DPR) is 51.28%.

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.