Connor Clark & Lunn Investment Management Ltd. Has $20.37 Million Stock Position in Clear Secure, Inc. (NYSE:YOU)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of Clear Secure, Inc. (NYSE:YOU) by 33.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 614,780 shares of the company’s stock after selling 309,263 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Clear Secure were worth $20,374,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of YOU. Thrivent Financial for Lutherans bought a new stake in shares of Clear Secure during the 3rd quarter valued at approximately $2,401,000. Chesapeake Capital Corp IL acquired a new stake in Clear Secure during the 3rd quarter valued at approximately $528,000. Mutual of America Capital Management LLC bought a new position in shares of Clear Secure in the 3rd quarter worth about $460,000. Empowered Funds LLC increased its stake in Clear Secure by 3.3% in the third quarter. Empowered Funds LLC now owns 66,327 shares of the company’s stock valued at $2,198,000 after purchasing an additional 2,125 shares in the last quarter. Finally, KBC Group NV bought a new position in Clear Secure in the third quarter worth approximately $90,000. Institutional investors own 73.80% of the company’s stock.

Analyst Upgrades and Downgrades

YOU has been the subject of several recent analyst reports. 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, November 1st. The Goldman Sachs Group boosted their price objective on shares of Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Stifel Nicolaus boosted their price objective on Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Clear Secure in a research note on Friday, November 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.67.

Insider Activity at Clear Secure

In other Clear Secure news, Director Michael Z. Barkin sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $28.64, for a total value of $716,000.00. Following the completion of the transaction, the director now directly owns 7,056 shares in the company, valued at $202,083.84. This represents a 77.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth L. Cornick sold 79,935 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.04, for a total value of $2,401,247.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,006,435 shares of company stock valued at $32,173,077. 37.85% of the stock is owned by corporate insiders.

Clear Secure Price Performance

Shares of NYSE YOU opened at $26.78 on Thursday. Clear Secure, Inc. has a 1 year low of $16.05 and a 1 year high of $38.88. The firm has a 50-day moving average of $32.61 and a 200 day moving average of $25.33. The stock has a market cap of $3.73 billion, a P/E ratio of 31.14 and a beta of 1.63.

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

Clear Secure Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be issued a $0.125 dividend. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, December 10th. Clear Secure’s payout ratio is presently 46.51%.

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.