Clear Secure (NYSE:YOU) Hits New 12-Month High After Dividend Announcement

Shares of Clear Secure, Inc. (NYSE:YOU) reached a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $38.01 and last traded at $37.89, with a volume of 372299 shares traded. The stock had previously closed at $37.45.

The newly announced dividend which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.36%. This is a boost from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, December 10th. Clear Secure’s dividend payout ratio (DPR) is 51.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group upped their target price on shares of Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus boosted their price target on shares of Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Clear Secure in a research note on Friday. Finally, The Goldman Sachs Group boosted their target price on Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.83.

Clear Secure Price Performance

The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 47.23 and a beta of 1.63. The business’s 50 day moving average is $32.71 and its 200 day moving average is $24.25.

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

Insider Buying and Selling at Clear Secure

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of Clear Secure stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.08, for a total transaction of $165,600.00. Following the transaction, the insider now owns 34,227 shares of the company’s stock, valued at $755,732.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.08, for a total value of $165,600.00. Following the transaction, the insider now owns 34,227 shares of the company’s stock, valued at approximately $755,732.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Dennis W. Liu sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $25.03, for a total transaction of $37,545.00. Following the completion of the sale, the chief accounting officer now owns 10,211 shares of the company’s stock, valued at $255,581.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,173,935 shares of company stock worth $36,826,532 over the last 90 days. Corporate insiders own 37.85% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Clear Secure by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,338 shares of the company’s stock valued at $411,000 after acquiring an additional 1,631 shares during the period. Principal Financial Group Inc. purchased a new stake in Clear Secure during the first quarter worth $238,000. Janney Montgomery Scott LLC grew its holdings in Clear Secure by 184.9% in the first quarter. Janney Montgomery Scott LLC now owns 1,071,486 shares of the company’s stock valued at $22,791,000 after purchasing an additional 695,418 shares during the last quarter. Capstone Investment Advisors LLC increased its position in shares of Clear Secure by 167.3% in the first quarter. Capstone Investment Advisors LLC now owns 112,793 shares of the company’s stock valued at $2,399,000 after buying an additional 70,597 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Clear Secure by 425.7% during the 1st quarter. Nordea Investment Management AB now owns 239,440 shares of the company’s stock worth $5,129,000 after buying an additional 193,889 shares during the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

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.