Clear Secure (NYSE:YOU) Shares Down 2.9% – Time to Sell?

Shares of Clear Secure, Inc. (NYSE:YOU) traded down 2.9% on Friday . The stock traded as low as $24.48 and last traded at $24.21. 1,254,563 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 2,150,510 shares. The stock had previously closed at $24.92.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on YOU shares. Telsey Advisory Group reiterated an “outperform” rating and set a $42.00 price objective on shares of Clear Secure in a research report on Thursday, February 27th. Stifel Nicolaus reduced their price target on shares of Clear Secure from $32.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Clear Secure currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Clear Secure Trading Down 1.8 %

The business’s 50 day simple moving average is $24.40 and its 200 day simple moving average is $28.19. The firm has a market capitalization of $3.35 billion, a PE ratio of 28.46 and a beta of 1.37.

Clear Secure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Monday, March 10th will be given a $0.125 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.50 annualized dividend and a yield of 2.04%. Clear Secure’s dividend payout ratio is currently 32.47%.

Institutional Investors Weigh In On Clear Secure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Clear Secure by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 12,526,949 shares of the company’s stock valued at $333,718,000 after purchasing an additional 473,207 shares during the last quarter. FMR LLC lifted its holdings in shares of Clear Secure by 30.6% in the 3rd quarter. FMR LLC now owns 6,598,424 shares of the company’s stock worth $218,672,000 after acquiring an additional 1,547,692 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Clear Secure by 15.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,698,159 shares of the company’s stock worth $98,519,000 after purchasing an additional 501,000 shares during the period. State Street Corp raised its position in Clear Secure by 64.1% in the 3rd quarter. State Street Corp now owns 3,360,945 shares of the company’s stock worth $111,381,000 after purchasing an additional 1,312,419 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Clear Secure by 74.9% in the fourth quarter. Wellington Management Group LLP now owns 3,322,514 shares of the company’s stock worth $88,512,000 after purchasing an additional 1,422,999 shares during the last quarter. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

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.