Chesapeake Capital Corp IL Invests $528,000 in Clear Secure, Inc. (NYSE:YOU)

Chesapeake Capital Corp IL purchased a new position in shares of Clear Secure, Inc. (NYSE:YOU) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,172 shares of the company’s stock, valued at approximately $528,000.

A number of other institutional investors also recently modified their holdings of YOU. Mutual of America Capital Management LLC acquired a new position in Clear Secure in the 3rd quarter worth about $460,000. Empowered Funds LLC increased its holdings in Clear Secure by 3.3% in the 3rd quarter. Empowered Funds LLC now owns 66,327 shares of the company’s stock worth $2,198,000 after purchasing an additional 2,125 shares in the last quarter. KBC Group NV acquired a new position in Clear Secure in the 3rd quarter worth about $90,000. Oppenheimer & Co. Inc. acquired a new position in Clear Secure in the 3rd quarter worth about $948,000. Finally, Entropy Technologies LP acquired a new position in Clear Secure in the 3rd quarter worth about $895,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

Wall Street Analysts Forecast Growth

YOU has been the subject of a number of recent research reports. Telsey Advisory Group upped their target price on Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Clear Secure in a report on Friday, November 8th. Stifel Nicolaus increased their price target on Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, October 28th. The Goldman Sachs Group increased their price target on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, 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 note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Clear Secure currently has a consensus rating of “Hold” and a consensus price target of $32.67.

Clear Secure Price Performance

Shares of Clear Secure stock opened at $26.23 on Friday. Clear Secure, Inc. has a one year low of $16.05 and a one year high of $38.88. The stock’s 50-day moving average is $32.83 and its 200 day moving average is $25.15. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 30.50 and a beta of 1.63.

Clear Secure (NYSE:YOU) last announced its earnings results on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing the consensus estimate 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 net margin of 10.93% and a return on equity of 48.28%. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 EPS. On average, sell-side analysts expect that Clear Secure, Inc. will post 1.01 EPS for the current fiscal year.

Clear Secure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.50 annualized dividend and a yield of 1.91%. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s dividend payout ratio is presently 46.51%.

Insiders Place Their Bets

In other news, Director Michael Z. Barkin sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $28.64, for a total value of $716,000.00. Following the completion of the sale, the director now directly owns 7,056 shares of the company’s stock, valued at $202,083.84. This represents a 77.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth L. Cornick sold 79,935 shares of Clear Secure stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.04, for a total value of $2,401,247.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,006,435 shares of company stock worth $32,173,077. Corporate insiders own 37.85% 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.