NewEdge Wealth LLC Has $1.84 Million Stake in CLEAR Secure, Inc. $YOU

NewEdge Wealth LLC raised its stake in shares of CLEAR Secure, Inc. (NYSE:YOU) by 52.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,025 shares of the company’s stock after purchasing an additional 13,041 shares during the period. NewEdge Wealth LLC’s holdings in CLEAR Secure were worth $1,841,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Durable Capital Partners LP raised its position in shares of CLEAR Secure by 153.1% during the second quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock worth $207,932,000 after acquiring an additional 4,531,161 shares during the last quarter. State Street Corp increased its position in CLEAR Secure by 1.8% during the 4th quarter. State Street Corp now owns 3,312,235 shares of the company’s stock valued at $116,193,000 after purchasing an additional 59,067 shares during the period. Morgan Stanley raised its holdings in CLEAR Secure by 6.0% during the 4th quarter. Morgan Stanley now owns 2,696,837 shares of the company’s stock worth $94,605,000 after purchasing an additional 152,074 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of CLEAR Secure by 5.5% in the 4th quarter. Wellington Management Group LLP now owns 2,626,856 shares of the company’s stock worth $92,150,000 after purchasing an additional 137,249 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CLEAR Secure by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,453,137 shares of the company’s stock valued at $86,069,000 after purchasing an additional 20,419 shares during the last quarter. Institutional investors own 73.80% of the company’s stock.

Insider Activity at CLEAR Secure

In related news, President Michael Z. Barkin sold 11,550 shares of CLEAR Secure stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $56.29, for a total transaction of $650,149.50. Following the transaction, the president owned 22,994 shares of the company’s stock, valued at $1,294,332.26. The trade was a 33.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kyle Mclaughlin sold 8,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $56.20, for a total value of $449,600.00. Following the transaction, the executive vice president owned 29,519 shares in the company, valued at approximately $1,658,967.80. This trade represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 23,962 shares of company stock valued at $1,360,146. 29.70% of the stock is owned by corporate insiders.

CLEAR Secure Stock Performance

YOU stock opened at $52.03 on Friday. The stock’s 50 day simple moving average is $55.09 and its 200 day simple moving average is $48.16. The company has a market cap of $6.94 billion, a P/E ratio of 41.96 and a beta of 1.08. CLEAR Secure, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $62.73.

CLEAR Secure (NYSE:YOU) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. CLEAR Secure had a return on equity of 68.98% and a net margin of 13.01%.The firm had revenue of $253.00 million during the quarter, compared to the consensus estimate of $244.38 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Equities analysts predict that CLEAR Secure, Inc. will post 1.61 earnings per share for the current year.

CLEAR Secure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, June 10th. CLEAR Secure’s dividend payout ratio is currently 48.39%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of CLEAR Secure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Zacks Research downgraded CLEAR Secure from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. The Goldman Sachs Group set a $70.00 target price on CLEAR Secure in a research note on Monday, July 20th. Telsey Advisory Group boosted their price target on CLEAR Secure from $62.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of CLEAR Secure from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, CLEAR Secure presently has an average rating of “Hold” and a consensus target price of $59.29.

CLEAR Secure Profile

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman?Becker and Ken Cornick, CLEAR is headquartered in New York City.