Delta Global Management LP Buys 131,367 Shares of Chime Financial, Inc. $CHYM

Delta Global Management LP boosted its position in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 18.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 860,750 shares of the company’s stock after buying an additional 131,367 shares during the quarter. Chime Financial accounts for approximately 1.3% of Delta Global Management LP’s investment portfolio, making the stock its 27th largest position. Delta Global Management LP’s holdings in Chime Financial were worth $16,122,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of Chime Financial in the first quarter valued at $189,000. Granahan Investment Management LLC grew its holdings in Chime Financial by 285.4% during the 1st quarter. Granahan Investment Management LLC now owns 446,152 shares of the company’s stock valued at $8,356,000 after purchasing an additional 330,397 shares during the last quarter. Renaissance Technologies LLC bought a new position in Chime Financial during the 1st quarter valued at about $15,334,000. Arrowstreet Capital Limited Partnership raised its position in Chime Financial by 2,720.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after purchasing an additional 2,658,816 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Chime Financial by 835.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,394 shares of the company’s stock worth $176,000 after purchasing an additional 8,390 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on CHYM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. Compass Point raised Chime Financial from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. Wells Fargo & Company upped their price objective on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Barclays started coverage on Chime Financial in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $26.00 target price on the stock. Finally, Texas Capital upgraded Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

Chime Financial Price Performance

Shares of CHYM stock opened at $20.69 on Friday. The company has a market capitalization of $7.88 billion and a P/E ratio of -2.78. The company’s 50-day simple moving average is $19.12 and its two-hundred day simple moving average is $20.98. Chime Financial, Inc. has a one year low of $15.88 and a one year high of $36.15.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $647.39 million during the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The firm’s revenue was up 24.8% compared to the same quarter last year. On average, research analysts expect that Chime Financial, Inc. will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction on Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the completion of the sale, the general counsel directly owned 303,795 shares of the company’s stock, valued at $5,316,412.50. The trade was a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.30% of the stock is owned by 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.