JPMorgan Chase & Co. Cuts Stock Position in CLEAR Secure, Inc. $YOU

JPMorgan Chase & Co. trimmed its position in shares of CLEAR Secure, Inc. (NYSE:YOU) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,354,080 shares of the company’s stock after selling 125,514 shares during the period. JPMorgan Chase & Co.’s holdings in CLEAR Secure were worth $45,199,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Durable Capital Partners LP boosted its stake in CLEAR Secure by 153.1% in the second quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock worth $207,932,000 after buying an additional 4,531,161 shares in the last quarter. First Trust Advisors LP raised its stake in shares of CLEAR Secure by 1.2% during the third quarter. First Trust Advisors LP now owns 3,063,062 shares of the company’s stock worth $102,245,000 after acquiring an additional 35,304 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of CLEAR Secure by 5.9% during the third quarter. Wellington Management Group LLP now owns 2,489,607 shares of the company’s stock worth $83,103,000 after acquiring an additional 139,048 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of CLEAR Secure by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,633,346 shares of the company’s stock worth $42,320,000 after acquiring an additional 430,035 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of CLEAR Secure by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,601,851 shares of the company’s stock valued at $53,491,000 after purchasing an additional 36,056 shares in the last quarter. Institutional investors own 73.80% of the company’s stock.

CLEAR Secure Stock Performance

CLEAR Secure stock opened at $48.00 on Friday. CLEAR Secure, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $50.46. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 42.86 and a beta of 1.13. The stock’s 50 day simple moving average is $38.42 and its two-hundred day simple moving average is $36.03.

CLEAR Secure (NYSE:YOU) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $240.75 million for the quarter, compared to analyst estimates of $235.66 million. CLEAR Secure had a return on equity of 70.08% and a net margin of 12.12%.The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. On average, analysts predict that CLEAR Secure, Inc. will post 0.98 earnings per share for the current year.

CLEAR Secure Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be given a $0.20 dividend. This represents a dividend yield of 131.0%. The ex-dividend date of this dividend is Tuesday, March 10th. CLEAR Secure’s payout ratio is currently 53.57%.

Insider Activity

In other news, President Michael Z. Barkin sold 22,885 shares of the stock in a transaction that occurred on Sunday, March 1st. The shares were sold at an average price of $48.22, for a total transaction of $1,103,514.70. Following the sale, the president owned 5,669 shares in the company, valued at $273,359.18. This represents a 80.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lynn Haaland sold 11,064 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $47.44, for a total transaction of $524,876.16. Following the sale, the insider directly owned 7,375 shares of the company’s stock, valued at $349,870. This trade represents a 60.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 111,488 shares of company stock valued at $5,069,078. Company insiders own 39.73% of the company’s stock.

Analysts Set New Price Targets

YOU has been the topic of several recent research reports. Weiss Ratings lowered shares of CLEAR Secure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 3rd. The Goldman Sachs Group set a $61.00 price target on shares of CLEAR Secure and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Stifel Nicolaus upped their price target on shares of CLEAR Secure from $38.00 to $51.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. raised their price objective on CLEAR Secure from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Zacks Research lowered CLEAR Secure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CLEAR Secure currently has a consensus rating of “Hold” and a consensus target price of $51.57.

About CLEAR Secure

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.