Clear Secure (NYSE:YOU) Shares Gap Down on Disappointing Earnings

Clear Secure, Inc. (NYSE:YOU) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $26.28, but opened at $24.50. Clear Secure shares last traded at $25.20, with a volume of 1,159,421 shares changing hands.

The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.04). The company had revenue of $211.40 million for the quarter, compared to analyst estimates of $208.02 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. Clear Secure’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share.

Clear Secure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Tuesday, June 10th. Clear Secure’s dividend payout ratio is currently 32.47%.

Analysts Set New Price Targets

YOU has been the subject of a number of research analyst reports. Telsey Advisory Group reduced their target price on shares of Clear Secure from $42.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Stifel Nicolaus lowered their price objective on shares of Clear Secure from $32.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Clear Secure in a research note on Monday, March 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Institutional Trading of Clear Secure

Several hedge funds and other institutional investors have recently bought and sold shares of YOU. Castellan Group bought a new position in Clear Secure during the 1st quarter worth $12,342,000. Jefferies Financial Group Inc. raised its position in Clear Secure by 2,000.1% in the first quarter. Jefferies Financial Group Inc. now owns 450,297 shares of the company’s stock valued at $11,667,000 after purchasing an additional 428,855 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Clear Secure by 189.6% during the 1st quarter. Arkadios Wealth Advisors now owns 39,794 shares of the company’s stock worth $1,031,000 after acquiring an additional 26,052 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Clear Secure in the first quarter worth $728,000. Finally, GSA Capital Partners LLP lifted its stake in shares of Clear Secure by 421.0% in the first quarter. GSA Capital Partners LLP now owns 46,769 shares of the company’s stock worth $1,212,000 after acquiring an additional 37,792 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

Clear Secure Trading Down 7.4 %

The stock’s 50-day moving average price is $25.74 and its 200-day moving average price is $26.51. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 28.29 and a beta of 1.25.

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.