Clear Secure (NYSE:YOU) Stock Price Down 2.9% – Here’s What Happened

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

Wall Street Analyst Weigh In

YOU has been the subject of several research reports. 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $42.00 price target on shares of Clear Secure in a research report on Thursday, February 27th. Finally, Stifel Nicolaus reduced their target price 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.00.

Clear Secure Stock Performance

The stock’s 50 day simple moving average is $24.45 and its 200 day simple moving average is $28.23. The firm has a market capitalization of $3.41 billion, a P/E ratio of 28.46 and a beta of 1.37.

Clear Secure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, March 10th. Clear Secure’s payout ratio is 32.47%.

Hedge Funds Weigh In On Clear Secure

Large investors have recently bought and sold shares of the business. Cim LLC grew its stake in Clear Secure by 14.3% during the 4th quarter. Cim LLC now owns 57,566 shares of the company’s stock worth $1,534,000 after buying an additional 7,219 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of Clear Secure by 100.4% during the fourth quarter. Jefferies Financial Group Inc. now owns 21,442 shares of the company’s stock worth $571,000 after purchasing an additional 10,742 shares during the period. WCG Wealth Advisors LLC boosted its position in Clear Secure by 13.0% in the fourth quarter. WCG Wealth Advisors LLC now owns 13,971 shares of the company’s stock valued at $372,000 after buying an additional 1,609 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Clear Secure by 23.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,641 shares of the company’s stock worth $4,652,000 after buying an additional 33,174 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in Clear Secure by 88.0% during the 4th quarter. Vident Advisory LLC now owns 14,070 shares of the company’s stock valued at $375,000 after acquiring an additional 6,585 shares during the period. Institutional investors own 73.80% of the company’s stock.

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.