Wellington Management Group LLP Invests $62.95 Million in Clear Secure, Inc. (NYSE:YOU)

Wellington Management Group LLP acquired a new position in shares of Clear Secure, Inc. (NYSE:YOU) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,899,515 shares of the company’s stock, valued at approximately $62,950,000.

Several other large investors also recently modified their holdings of YOU. Capital Performance Advisors LLP acquired a new stake in Clear Secure in the 3rd quarter valued at $26,000. Future Financial Wealth Managment LLC acquired a new stake in Clear Secure in the 3rd quarter valued at $33,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Clear Secure in the 2nd quarter valued at $26,000. KBC Group NV acquired a new stake in Clear Secure in the 3rd quarter valued at $90,000. Finally, NBC Securities Inc. acquired a new stake in Clear Secure in the 3rd quarter valued at $105,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

Insider Transactions at Clear Secure

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total transaction of $5,112,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth L. Cornick sold 250,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total value of $8,075,000.00. The disclosure for this sale can be found here. Insiders have sold 672,579 shares of company stock worth $21,947,852 in the last ninety days. Company insiders own 37.85% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on YOU shares. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Clear Secure in a research report on Friday, November 8th. Wedbush reissued a “neutral” rating and issued a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Telsey Advisory Group lifted their price objective on shares of Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Clear Secure currently has a consensus rating of “Hold” and a consensus price target of $32.67.

Clear Secure Price Performance

YOU opened at $27.79 on Wednesday. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 32.31 and a beta of 1.44. The firm’s fifty day moving average price is $31.07 and its two-hundred day moving average price is $26.29. Clear Secure, Inc. has a 1 year low of $16.05 and a 1 year high of $38.88.

Clear Secure (NYSE:YOU) last released its 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). The business had revenue of $198.40 million for the quarter, compared to the consensus estimate of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. As a group, equities analysts anticipate that Clear Secure, Inc. will post 0.98 EPS for the current year.

Clear Secure Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, December 10th. Clear Secure’s payout ratio is presently 58.14%.

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.