Delta Global Management LP Acquires 692,330 Shares of Chime Financial, Inc. $CHYM

Delta Global Management LP lifted its holdings in Chime Financial, Inc. (NASDAQ:CHYM) by 1,868.5% during the fourth quarter, HoldingsChannel reports. The firm owned 729,383 shares of the company’s stock after purchasing an additional 692,330 shares during the period. Chime Financial comprises 0.8% of Delta Global Management LP’s investment portfolio, making the stock its 28th biggest position. Delta Global Management LP’s holdings in Chime Financial were worth $18,359,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CHYM. PNC Financial Services Group Inc. bought a new position in shares of Chime Financial in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC acquired a new stake in Chime Financial during the second quarter worth about $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial during the second quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Chime Financial during the second quarter valued at approximately $40,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. Wells Fargo & Company lifted their target price on shares of Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods upgraded shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $33.00 to $27.00 in a research report on Monday, April 13th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research report on Monday, May 11th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chime Financial has an average rating of “Moderate Buy” and an average price target of $31.65.

Chime Financial Stock Performance

Shares of Chime Financial stock opened at $17.64 on Tuesday. The firm has a fifty day moving average of $19.52 and a two-hundred day moving average of $21.89. The stock has a market capitalization of $6.72 billion and a price-to-earnings ratio of -2.37. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $38.67.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The company had revenue of $647.39 million during the quarter. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, research analysts forecast that Chime Financial, Inc. will post 0.3 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total value of $54,000.00. Following the completion of the transaction, the general counsel owned 306,795 shares of the company’s stock, valued at $5,522,310. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.30% of the stock is owned by company insiders.

Chime Financial Company Profile

Chime Financial is a U.S.-based financial technology company offering mobile-first banking services designed to reduce fees and simplify everyday transactions. Founded in 2013 and headquartered in San Francisco, Chime operates a digital bank platform that provides customers with a checking account, a savings account, and a debit card without monthly maintenance fees, overdraft charges, or foreign transaction fees. The company’s platform is accessible via its mobile app, enabling users to manage their finances, track spending, and access customer support from their smartphones.

At the core of Chime’s service offering is its fee-free spending account, which includes early access to direct deposit funds—up to two days before scheduled payday—and instant transaction alerts.