Connor Clark & Lunn Investment Management Ltd. Sells 497,086 Shares of Clear Secure, Inc. (NYSE:YOU)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Clear Secure, Inc. (NYSE:YOU) by 80.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,694 shares of the company’s stock after selling 497,086 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Clear Secure worth $3,135,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in shares of Clear Secure during the third quarter valued at approximately $2,010,000. Foundry Partners LLC raised its position in Clear Secure by 667.5% during the 3rd quarter. Foundry Partners LLC now owns 213,815 shares of the company’s stock valued at $7,086,000 after purchasing an additional 185,957 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Clear Secure in the 3rd quarter worth $2,401,000. FMR LLC grew its position in shares of Clear Secure by 30.6% during the 3rd quarter. FMR LLC now owns 6,598,424 shares of the company’s stock worth $218,672,000 after buying an additional 1,547,692 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Clear Secure by 3,937.1% during the third quarter. Principal Financial Group Inc. now owns 478,760 shares of the company’s stock valued at $15,866,000 after buying an additional 466,901 shares during the period. 73.80% of the stock is owned by hedge funds and other institutional investors.

Clear Secure Stock Up 7.7 %

Shares of Clear Secure stock opened at $26.40 on Tuesday. Clear Secure, Inc. has a 52-week low of $16.05 and a 52-week high of $38.88. The firm’s 50 day moving average price is $24.39 and its 200-day moving average price is $28.16. The company has a market cap of $3.61 billion, a P/E ratio of 30.70 and a beta of 1.37.

Clear Secure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, March 10th. Clear Secure’s payout ratio is presently 32.47%.

Analysts Set New Price Targets

Several research analysts have issued reports on YOU shares. Stifel Nicolaus dropped their target price on shares of Clear Secure from $32.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $42.00 price objective on shares of Clear Secure in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Clear Secure in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Clear Secure presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

About Clear Secure

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.