Clear Secure (NYSE:YOU) Shares Gap Up After Dividend Announcement

Clear Secure, Inc. (NYSE:YOU)’s share price gapped up before the market opened on Wednesday after the company announced a dividend. The stock had previously closed at $18.08, but opened at $18.99. Clear Secure shares last traded at $16.64, with a volume of 1,686,148 shares.

The newly announced dividend which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th will be given a $0.10 dividend. This is an increase from Clear Secure’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Monday, June 10th. Clear Secure’s payout ratio is currently 120.00%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on YOU. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Clear Secure in a research report on Wednesday. Wedbush reissued a “neutral” rating and issued a $21.00 price objective on shares of Clear Secure in a research note on Wednesday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $34.00 price target on shares of Clear Secure in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Clear Secure presently has a consensus rating of “Hold” and a consensus target price of $28.40.

Clear Secure Stock Down 5.0 %

The firm has a fifty day simple moving average of $19.17 and a 200-day simple moving average of $19.73. The company has a market capitalization of $2.73 billion, a P/E ratio of 57.27 and a beta of 1.59.

Clear Secure (NYSE:YOU) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The business had revenue of $170.97 million during the quarter, compared to the consensus estimate of $166.56 million. During the same period last year, the company earned ($0.12) earnings per share. Clear Secure’s quarterly revenue was up 33.3% on a year-over-year basis. On average, sell-side analysts predict that Clear Secure, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Activity at Clear Secure

In related news, insider Richard N. Jr. Patterson sold 7,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the transaction, the insider now directly owns 41,727 shares of the company’s stock, valued at $834,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 39.94% of the company’s stock.

Institutional Trading of Clear Secure

A number of hedge funds have recently made changes to their positions in YOU. SG Americas Securities LLC acquired a new stake in shares of Clear Secure in the third quarter valued at approximately $214,000. Bank of New York Mellon Corp lifted its position in shares of Clear Secure by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 340,890 shares of the company’s stock valued at $6,491,000 after buying an additional 8,858 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Clear Secure by 23.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,524 shares of the company’s stock valued at $277,000 after buying an additional 2,780 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Clear Secure in the third quarter valued at approximately $538,000. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in Clear Secure by 50.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 235,769 shares of the company’s stock worth $4,489,000 after purchasing an additional 79,217 shares during the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

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.