Clear Secure (NYSE:YOU) Stock Price Up 6.1% Following Dividend Announcement

Clear Secure, Inc. (NYSE:YOU) saw its share price increase by 6.1% during midday trading on Friday. This rise followed the company’s announcement regarding a dividend. At its highest point, the stock traded at $23.82, and the last recorded trade was at $23.75. On that day, approximately 780,744 shares changed hands, which is a significant decline of 51% compared to the average daily trading volume of 1,580,889 shares. The previous closing price before this announcement was $22.39.

The newly declared dividend is scheduled to be paid on Tuesday, March 18th. Investors who are stockholders of record on Monday, March 10th, will receive a dividend of $0.125 per share. When calculated on an annual basis, this translates to a total dividend of $0.50 with a dividend yield of 2.11%. Currently, Clear Secure's dividend payout ratio (DPR) stands at 58.14%.

Analyst Ratings Changes

Recent commentary from several research analysts regarding Clear Secure’s shares has been noteworthy. The Telsey Advisory Group reaffirmed an "outperform" rating and established a target price of $42.00 for the company's shares in a research note released on Friday. Additionally, Wedbush maintained a "neutral" rating while increasing its target price from $24.00 to $26.00 in a report published on Thursday, November 7th. Stifel Nicolaus has also raised its target price from $24.00 to $32.00, giving the stock a "hold" rating in a report dated Monday, October 28th. Meanwhile, Needham & Company LLC reiterated a "buy" rating and set a target price of $45.00 for Clear Secure shares in their report released on Monday, December 16th. Out of the research analysts covering this stock, two have given a "hold" rating and three have recommended it as a "buy." According to analytics from MarketBeat, Clear Secure currently enjoys an average rating of "Moderate Buy" with a consensus price target of $35.20.

Clear Secure Stock Overview

At present, Clear Secure boasts a market capitalization of $3.31 billion. It has a price-to-earnings (PE) ratio of 27.61 and a beta of 1.38. Additionally, the company’s stock has a 50-day simple moving average of $25.18 and a 200-day simple moving average of $28.46.

Institutional Trading of Clear Secure

There have been notable changes in the holdings of large institutional investors in Clear Secure stock recently. For instance, Capital Performance Advisors LLP entered a new position in the company during the third quarter with an investment worth $26,000. Additionally, GAMMA Investing LLC has increased its position in Clear Secure by 221.6% during the fourth quarter and now owns 1,119 shares valued at $30,000 after acquiring 771 additional shares. Furthermore, Huntington National Bank has acquired a new stake in Clear Secure stock during the fourth quarter valued at $35,000. SRS Capital Advisors Inc. has also increased its stake by 56.1%, owning 2,132 shares currently valued at $57,000 following their purchase of 766 additional shares in the last quarter. Lastly, Strategic Investment Solutions Inc. IL achieved a remarkable growth of 113,800.0%, now owning 2,278 shares valued at $61,000 after purchasing an additional 2,276 shares in the same quarter. Overall, institutional investors own approximately 73.80% of the company’s shares.

About Clear Secure

Clear Secure, Inc. operates a secure identity platform under the CLEAR brand primarily within the United States. This platform provides a multi-layered infrastructure that includes both front-end functions, such as enrollment and verification, as well as back-end services. The company also provides CLEAR Plus, a subscription service for consumers that offers access to dedicated entry lanes at airport security checkpoints, in addition to access across a broader network. To enhance customer experience, the CLEAR mobile app is available for enrollment of new members and providing assistance to existing members.

Conclusion

The stock market is influenced by various factors, and Clear Secure's recent dividend announcement appears to have positively impacted investor sentiment, contributing to the rise in stock price.

Stock, Dividend, Increase