Clear Secure (NYSE:YOU) Shares Up 6.1% After Dividend Announcement

Clear Secure, Inc. (NYSE:YOU) shares shot up 6.1% during mid-day trading on Friday after the company announced a dividend. The company traded as high as $23.82 and last traded at $23.75. 780,744 shares traded hands during trading, a decline of 51% from the average session volume of 1,580,889 shares. The stock had previously closed at $22.39.

The newly announced dividend which will be paid on Tuesday, March 18th. Investors of record on Monday, March 10th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.12%. Clear Secure’s payout ratio is presently 58.14%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Clear Secure in a report on Monday, December 16th. Wedbush reiterated a “neutral” rating and issued a $26.00 target price (up from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price objective on shares of Clear Secure in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.20.

Clear Secure Trading Up 5.3 %

The firm’s fifty day moving average price is $25.12 and its 200 day moving average price is $28.48. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 27.42 and a beta of 1.38.

Institutional Investors Weigh In On Clear Secure

Several large investors have recently added to or reduced their stakes in YOU. Capital Performance Advisors LLP purchased a new stake in Clear Secure during the 3rd quarter worth approximately $26,000. GAMMA Investing LLC increased its position in shares of Clear Secure by 221.6% in the 4th quarter. GAMMA Investing LLC now owns 1,119 shares of the company’s stock valued at $30,000 after purchasing an additional 771 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Clear Secure in the 4th quarter valued at approximately $35,000. SRS Capital Advisors Inc. increased its position in shares of Clear Secure by 56.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,132 shares of the company’s stock valued at $57,000 after purchasing an additional 766 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL increased its position in shares of Clear Secure by 113,800.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,278 shares of the company’s stock valued at $61,000 after purchasing an additional 2,276 shares during the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

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.