On June 28, 2023, Stanley Laman Group Ltd., a prominent financial institution, made a strategic decision to reduce its holdings in Clear Secure, Inc. (NYSE: YOU). The company reportedly decreased its stake by an astonishing 28.0% during the first quarter of the year. This bold move was confirmed in the firm’s recent disclosure with the Securities and Exchange Commission.
Prior to this adjustment, Stanley Laman Group Ltd. possessed a significant number of shares in Clear Secure, Inc., totaling 40,161. However, their latest maneuver involved selling off 15,613 shares within the mentioned time frame. At the end of this reporting period, Stanley Laman Group Ltd.’s remaining holdings in Clear Secure amounted to approximately $1,051,000.
Clear Secure, Inc., operates a highly secure identity platform known as CLEAR. Its primary focus is on providing cutting-edge solutions within the United States while ensuring top-notch security standards are upheld. The company’s secure identity platform is equipped with multiple layers of infrastructure encompassing various stages such as enrollment, verification, and linking processes.
In addition to their core services, Clear Secure offers CLEAR Plus—a premium consumer aviation subscription service that grants subscribers access to expedited entry lanes at airport security checkpoints. This coveted advantage not only saves precious time but also provides an enhanced travel experience for these privileged members. Moreover, CLEAR Plus members can enjoy an extensive network of benefits beyond just airport security convenience.
To facilitate seamless operations and further enhance user experiences, Clear Secure developed a mobile application aptly named the CLEAR mobile app. This innovative tool serves dual purposes—enrolling new members into the program and enriching the journey for existing users.
Switching gears to market performance indicators; You (NYSE: YOU), under which Clear Secure operates as a publicly traded entity, opened trading on Wednesday at $22.96 per share. Historically speaking, this stock has experienced its fair share of fluctuations with a 52-week low of $18.94 and a 52-week high of $35.00. Notably, the business maintains a 50-day moving average of $24.65 and a 200-day moving average of $26.83.
Overall, the decision by Stanley Laman Group Ltd. to trim its holdings in Clear Secure, Inc., showcases their expert approach to portfolio management. As this daring maneuver unfolds, it will be worth monitoring further developments within the company’s trajectory and market performance dynamics going forward.
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Title: Institutional Investors and Investment Firms Make Significant Moves with Clear Secure, Inc. Stock
Investment firms and institutional investors have been making significant moves with regards to Clear Secure, Inc. stock recently. One notable example is OLD Mission Capital LLC, which acquired a new position in the company during the fourth quarter of last year, with an estimated value of approximately $43,000. Similarly, Point72 Hong Kong Ltd entered the scene in the second quarter of this year by purchasing shares worth around $45,000.
Furthermore, Royal Bank of Canada increased its stake in Clear Secure by 20.9% during the third quarter of 2022. The bank now owns 2,357 shares of Clear Secure’s stock, valuing at $54,000 after acquiring an additional 407 shares within that period. Another investor making waves is Zurcher Kantonalbank Zurich Cantonalbank. They bought a new stake in Clear Secure during the second quarter valued at $73,000.
Additionally, Ensign Peak Advisors Inc entered the game during the first quarter this year by purchasing a stake in Clear Secure valued at approximately $109,000. As it stands currently, institutional investors own 62.52% of the stock.
In other news related to Clear Secure stock transactions, EVP Seyed Kasra Moshkani sold 1,000 shares on Wednesday, April 12th at an average price of $27.29 per share amounting to a total transaction value of $27,290.00.The same EVP now holds direct ownership over 21,894 shares in the company following this transaction valued at approximately $597,487.26.
Another major shareholder making headlines is Durable Capital Partners LP who sold 26,642 shares on Friday June 16th at an average price per share of $24.63 thereby amounting to a total transaction value of roughly $656203205 without leaving any doubt that their exit was monumental.
Shares were then disposed resulting in insider ownership shifting down to 42.06%. The exact value of stock sold by insiders in the last quarter totaled $709,512 dollars.
Clear Secure is in the business of operating a secure identity platform across the United States. The company provides a multi-layered infrastructure through its CLEAR brand name that includes front-end services such as enrollment, verification, and linking. Additionally, they offer a consumer aviation subscription service called CLEAR Plus which enables faster access to airport security checkpoints and a more extensive network. Lastly, Clear Secure has developed a mobile app to streamline enrollment and enhance the user experience.
The financials for Clear Secure were last reported on May 9th and showed an EPS of ($0.06) for the quarter, surpassing analyst expectations by $0.09 per share. In terms of revenue generated during this period, it amounted to $132.36 million compared to analysts’ predictions of $129.72 million.The net margin for Clear Secure was -12.62% with a negative return on equity totaling -12.36%. Analysts predict that for the current year, Clear Secure will post an EPS of approximately -0.09.
Various equities analysts have weighed in on Clear Secure recently with their ratings and target prices for the stock.One example is Stifel Nicolaus who initiated coverage on shares of Clear Secure with a “hold” rating.The research note covering this analysis was issued on May 25th.Wedbush also began coverage on the stock with a “neutral” rating and set their target price at $27 per share.Another reputable voice from Telsey Advisory Group reiterated their “outperform” rating with a $38 target price.Furthermore,JPMorgan Chase & Co lifted their price target from $32 per share to reach $33 per share while maintaining their “neutral” rating.Immediately after that report, Needham & Company LLC kept unaltered quite bullish view (buy)on shares issuing a $40 price objective.
According to data from Bloomberg, the average rating for Clear Secure is labeled “Hold.” Additionally, market analysts predict that the consensual target price for Clear Secure’s stock sits at $34.50.In conclusion, Clear Secure has seen substantial activity in terms of institutional investments and stock transactions. With several analysts providing their insights and ratings on the company, it will be interesting to see how these developments shape their future trajectory.
