Clear Secure (NYSE:YOU) Shares Down 7.6% – Here’s What Happened

Clear Secure, Inc. (NYSE:YOU)’s stock price fell 7.6% on Wednesday . The company traded as low as $21.75 and last traded at $21.96. 955,920 shares changed hands during trading, a decline of 45% from the average session volume of 1,742,321 shares. The stock had previously closed at $23.77.

Analysts Set New Price Targets

Several research analysts have issued reports on YOU shares. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price target on shares of Clear Secure in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a research note on Monday, December 16th. Finally, Wedbush reissued a “neutral” rating and issued a $26.00 target price (up from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.20.

Clear Secure Price Performance

The firm has a market capitalization of $3.10 billion, a PE ratio of 25.80 and a beta of 1.38. The company has a fifty day moving average of $25.03 and a 200-day moving average of $28.52.

Clear Secure (NYSE:YOU) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.59. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. Equities analysts anticipate that Clear Secure, Inc. will post 0.98 EPS for the current year.

Clear Secure Dividend Announcement

The company 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 $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. Clear Secure’s dividend payout ratio is 58.14%.

Institutional Trading of Clear Secure

Large investors have recently modified their holdings of the company. Penserra Capital Management LLC acquired a new position in Clear Secure during the 3rd quarter worth $2,010,000. Foundry Partners LLC lifted its position in shares of Clear Secure by 667.5% during the 3rd quarter. Foundry Partners LLC now owns 213,815 shares of the company’s stock worth $7,086,000 after purchasing an additional 185,957 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Clear Secure by 402.1% during the 3rd quarter. New York State Teachers Retirement System now owns 38,376 shares of the company’s stock valued at $1,272,000 after purchasing an additional 30,733 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of Clear Secure in the third quarter worth $2,401,000. Finally, Meritage Portfolio Management grew its position in Clear Secure by 108.8% in the 3rd quarter. Meritage Portfolio Management now owns 36,450 shares of the company’s stock worth $1,208,000 after purchasing an additional 18,994 shares during the last quarter. 73.80% of the stock is owned by institutional investors.

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.