Legato Capital Management LLC Trims Stock Position in Clear Secure, Inc. (NYSE:YOU)

Legato Capital Management LLC lowered its stake in shares of Clear Secure, Inc. (NYSE:YOU) by 57.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,278 shares of the company’s stock after selling 15,262 shares during the period. Legato Capital Management LLC’s holdings in Clear Secure were worth $300,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Foundry Partners LLC raised its stake in shares of Clear Secure by 667.5% during the 3rd quarter. Foundry Partners LLC now owns 213,815 shares of the company’s stock valued at $7,086,000 after buying an additional 185,957 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Clear Secure during the 3rd quarter valued at about $2,010,000. New York State Teachers Retirement System raised its stake in shares of Clear Secure by 402.1% during the 3rd quarter. New York State Teachers Retirement System now owns 38,376 shares of the company’s stock valued at $1,272,000 after buying an additional 30,733 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Clear Secure during the 3rd quarter valued at about $2,401,000. Finally, Meritage Portfolio Management increased its stake in shares of Clear Secure by 108.8% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Clear Secure Trading Down 5.7 %

YOU stock opened at $22.60 on Friday. Clear Secure, Inc. has a 12-month low of $16.05 and a 12-month high of $38.88. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 26.28 and a beta of 1.38. The business’s 50-day moving average is $25.57 and its 200 day moving average is $28.41.

Wall Street Analyst Weigh In

YOU has been the subject of several recent analyst reports. Telsey Advisory Group lifted their price target on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wedbush restated 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. Stifel Nicolaus lifted 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Clear Secure in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.20.

About Clear Secure

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.