Penserra Capital Management LLC Takes $2.01 Million Position in Clear Secure, Inc. (NYSE:YOU)

Penserra Capital Management LLC purchased a new position in shares of Clear Secure, Inc. (NYSE:YOU) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,663 shares of the company’s stock, valued at approximately $2,010,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Clear Secure during the 3rd quarter valued at $26,000. Future Financial Wealth Managment LLC bought a new stake in Clear Secure during the third quarter worth about $33,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Clear Secure during the second quarter worth about $26,000. KBC Group NV acquired a new stake in Clear Secure during the third quarter worth about $90,000. Finally, NBC Securities Inc. bought a new position in Clear Secure in the 3rd quarter valued at about $105,000. Institutional investors own 73.80% of the company’s stock.

Clear Secure Stock Up 3.4 %

Shares of YOU stock opened at $27.06 on Tuesday. Clear Secure, Inc. has a twelve month low of $16.05 and a twelve month high of $38.88. The stock’s fifty day simple moving average is $32.37 and its 200 day simple moving average is $25.57. The firm has a market capitalization of $3.77 billion, a P/E ratio of 31.47 and a beta of 1.63.

Clear Secure (NYSE:YOU) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.03). Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The firm had revenue of $198.40 million for the quarter, compared to the consensus estimate of $194.62 million. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. As a group, equities research analysts expect that Clear Secure, Inc. will post 0.98 EPS for the current fiscal year.

Clear Secure Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be given a $0.125 dividend. This is a boost from Clear Secure’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a yield of 1.85%. The ex-dividend date is Tuesday, December 10th. Clear Secure’s dividend payout ratio is 46.51%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on YOU. Wedbush reiterated a “neutral” rating and set a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Telsey Advisory Group raised their target price on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Clear Secure in a report on Friday, November 8th. Stifel Nicolaus upped their price objective on Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group lifted their target price on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.67.

Insider Activity

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of the company’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Dennis W. Liu sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $46,575.00. Following the transaction, the chief accounting officer now owns 7,211 shares of the company’s stock, valued at approximately $223,901.55. The trade was a 17.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 981,435 shares of company stock valued at $31,457,077. Insiders own 37.85% of the company’s stock.

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.