Cornerstone Wealth Management LLC Sells 917 Shares of Clear Secure, Inc. (NYSE:YOU)

Cornerstone Wealth Management LLC lowered its stake in Clear Secure, Inc. (NYSE:YOU) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,683 shares of the company’s stock after selling 917 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Clear Secure were worth $897,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Foundry Partners LLC raised its holdings in shares of Clear Secure by 667.5% in the third quarter. Foundry Partners LLC now owns 213,815 shares of the company’s stock valued at $7,086,000 after purchasing an additional 185,957 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Clear Secure in the third quarter valued at approximately $2,010,000. New York State Teachers Retirement System raised its holdings in shares of Clear Secure by 402.1% in the third 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 last quarter. Meritage Portfolio Management raised its holdings in shares of Clear Secure by 108.8% in the third quarter. Meritage Portfolio Management now owns 36,450 shares of the company’s stock valued at $1,208,000 after purchasing an additional 18,994 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of Clear Secure in the third quarter valued at approximately $2,401,000. Institutional investors own 73.80% of the company’s stock.

Clear Secure Trading Up 0.2 %

Shares of YOU opened at $24.12 on Friday. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 28.04 and a beta of 1.41. Clear Secure, Inc. has a 1-year low of $16.05 and a 1-year high of $38.88. The company’s fifty day simple moving average is $26.45 and its 200 day simple moving average is $28.07.

Clear Secure (NYSE:YOU) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The company had revenue of $198.40 million for the quarter, compared to the consensus estimate of $194.62 million. During the same period last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, research analysts forecast that Clear Secure, Inc. will post 0.98 earnings per share for the current year.

Clear Secure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.07%. This is a boost from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, December 10th. Clear Secure’s payout ratio is 58.14%.

Analyst Ratings Changes

YOU has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Clear Secure in a report on Monday, December 16th. Stifel Nicolaus lifted their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a report on Monday, October 28th. Wedbush restated a “neutral” rating and set a $26.00 target price (up from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Finally, Telsey Advisory Group boosted their target price 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.20.

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.