M&G PLC Purchases New Stake in Chime Financial, Inc. $CHYM

M&G PLC acquired a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 444,957 shares of the company’s stock, valued at approximately $12,014,000. M&G PLC owned about 0.12% of Chime Financial at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new stake in shares of Chime Financial during the third quarter worth $253,000. Fulcrum Asset Management LLP acquired a new position in shares of Chime Financial in the 3rd quarter valued at about $592,000. Brighton Jones LLC acquired a new position in shares of Chime Financial in the 3rd quarter valued at about $1,088,000. CenterBook Partners LP acquired a new position in shares of Chime Financial in the 3rd quarter valued at about $576,000. Finally, Calamos Advisors LLC bought a new stake in shares of Chime Financial during the 3rd quarter valued at about $5,080,000.

Insider Transactions at Chime Financial

In other Chime Financial news, Director James Feuille sold 256,837 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $32.33, for a total transaction of $8,303,540.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Global Advisors Ltd Dst sold 1,319,027 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $31.13, for a total transaction of $41,061,310.51. Following the transaction, the insider directly owned 324,365 shares of the company’s stock, valued at $10,097,482.45. The trade was a 80.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,634,736 shares of company stock worth $546,765,870 over the last 90 days. Corporate insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CHYM shares. Keefe, Bruyette & Woods increased their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. KeyCorp lifted their target price on Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, September 9th. Wells Fargo & Company lifted their target price on Chime Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Freedom Capital raised Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Chime Financial presently has a consensus rating of “Buy” and an average target price of $39.47.

More Chime Financial News

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Upbeat earnings outlook: Zacks said rising earnings estimates could support further gains. Chime’s latest reported quarter also beat EPS expectations and delivered 32.1% year-over-year revenue growth, providing a positive fundamental backdrop. Article: Surging Earnings Estimates Signal Upside
• Positive Sentiment: Momentum appeal: Zacks also characterized CHYM as a long-term momentum stock, potentially attracting investors focused on stronger-performing shares. Article: Why Chime Is a Top Momentum Stock
• Neutral Sentiment: Short-interest data is unclear: One report describes a large increase but gives short interest as zero shares and a 0.0-day ratio. The figures appear inconsistent, so they do not establish short-covering as a meaningful catalyst.
• Neutral Sentiment: Mixed analyst signal: Monness maintained a Hold rating, while the cited broader analyst consensus was Moderate Buy. Article: Monness Maintains Hold Rating
• Negative Sentiment: Large shareholder selling: Global Advisors Ltd Dst sold 1,319,027 shares for about $41.1 million on November 6, an 80.26% reduction in its position. The additional reported sale of 10,740 shares adds to the potential supply overhang and may unsettle investors. Article: Chime Major Shareholder Sales

Chime Financial Stock Performance

CHYM stock opened at $32.54 on Wednesday. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 141.43 and a beta of 0.74. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $35.55. The stock’s fifty day moving average is $29.91 and its two-hundred day moving average is $23.96.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $718.00 million during the quarter. Chime Financial had a net margin of 3.05% and a return on equity of 6.72%. The business’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) EPS. As a group, analysts predict that Chime Financial, Inc. will post 0.47 EPS for the current fiscal year.

About Chime Financial

Chime Financial operates a digital financial services platform for consumers in the United States. Through its mobile app, the company offers spending and savings accounts, debit cards and tools for managing money. Its products also include credit-building services and features designed to help customers access direct deposits and avoid certain common banking fees. Founded in 2012 by Chris Britt and Ryan King, Chime is a financial technology company, not a bank. Banking services are provided through partner banks, including The Bancorp Bank, N.A., and Stride Bank, N.A. Chris Britt has served as the company’s chief executive officer.