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

Clear Secure, Inc. (NYSE:YOU)’s stock price dropped 2.9% on Friday . The stock traded as low as $24.48 and last traded at $24.21. Approximately 1,254,563 shares were traded during 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 Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price target on shares of Clear Secure in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Clear Secure in a research note on Thursday, February 27th. Finally, Stifel Nicolaus lowered their target price on Clear Secure from $32.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Clear Secure Price Performance

The company’s fifty day simple moving average is $24.40 and its 200-day simple moving average is $28.19. The firm has a market capitalization of $3.35 billion, a PE ratio of 28.46 and a beta of 1.37.

Clear Secure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Monday, March 10th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, March 10th. Clear Secure’s payout ratio is currently 32.47%.

Institutional Investors Weigh In On Clear Secure

Large investors have recently made changes to their positions in the stock. Penserra Capital Management LLC purchased a new stake in Clear Secure during the 3rd quarter valued at about $2,010,000. Foundry Partners LLC increased its holdings in Clear Secure by 667.5% in the 3rd quarter. Foundry Partners LLC now owns 213,815 shares of the company’s stock worth $7,086,000 after buying an additional 185,957 shares during the period. Thrivent Financial for Lutherans purchased a new position in Clear Secure during the 3rd quarter worth approximately $2,401,000. FMR LLC lifted its stake in Clear Secure by 30.6% during the 3rd quarter. FMR LLC now owns 6,598,424 shares of the company’s stock valued at $218,672,000 after acquiring an additional 1,547,692 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Clear Secure by 3,937.1% in the 3rd quarter. Principal Financial Group Inc. now owns 478,760 shares of the company’s stock valued at $15,866,000 after acquiring an additional 466,901 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.