What Makes Clear Secure (YOU) an Exciting Investment?
ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 3000 Index, in the third quarter. The strategy’s outperformance in the quarter was attributed to contributions from several smaller-cap, growth-oriented businesses in the consumer discretionary and information technology sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Investments highlighted stocks like Clear Secure, Inc. (NYSE:YOU) in the Q3 2022 investor letter. Headquartered in New York, New York, Clear Secure, Inc. (NYSE:YOU) is a member-centric secure identity platform provider. On November 7, 2022, Clear Secure, Inc. (NYSE:YOU) stock closed at $24.05 per share. One-month return of Clear Secure, Inc. (NYSE:YOU) was -1.76%, and its shares lost 53.48% of their value over the last 52 weeks. Clear Secure, Inc. (NYSE:YOU) has a market capitalization of $3.607 billion.
ClearBridge Investments made the following comment about Clear Secure, Inc. (NYSE:YOU) in its Q3 2022 investor letter:
"We made limited changes to the portfolio in the third quarter. New buys included embryonic positions in several rapid growers — MongoDB (MDB) and Clear Secure, Inc. (NYSE:YOU) — whose valuations have come in quite dramatically. MongoDB is a company we followed for many years before its 2017 IPO. The stock looks very attractive trading at a third of its recent peak in November 2021. The company’s database software is growing rapidly and taking share in a $50 billion plus global market.
Clear Secure is using its innovative biometrics technology to improve how consumers go through airport security. We believe its subscription-based model, which contributes to better throughput through airports, should prove more resilient to travel trends through a downturn with more company-specific growth drivers in the years ahead, including new avenues to monetize its unique identification systems. We trimmed our Expedia (EXPE) position and rolled those proceeds into Clear Secure."
Clear Secure, Inc. (NYSE:YOU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Clear Secure, Inc. (NYSE:YOU) at the end of the second quarter which was 19 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
