Fortress Investment Group LLC Invests $690,000 in Chime Financial, Inc. $CHYM

Fortress Investment Group LLC acquired a new stake in Chime Financial, Inc. (NASDAQ:CHYM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $690,000.

A number of other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new position in shares of Chime Financial during the 2nd quarter valued at $33,000. Daiwa Securities Group Inc. bought a new stake in Chime Financial in the 2nd quarter valued at about $40,000. Emerald Mutual Fund Advisers Trust bought a new stake in Chime Financial in the 2nd quarter valued at about $113,000. Legal & General Group Plc purchased a new stake in Chime Financial during the second quarter valued at about $136,000. Finally, Raymond James Financial Inc. bought a new position in Chime Financial during the second quarter worth about $159,000.

Analyst Upgrades and Downgrades

CHYM has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $26.00 to $27.00 in a research note on Monday, December 1st. UBS Group dropped their target price on Chime Financial from $37.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Chime Financial in a report on Wednesday, October 8th. Williams Trading set a $17.00 price objective on Chime Financial in a research note on Monday, November 3rd. Finally, William Blair reissued an “outperform” rating on shares of Chime Financial in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Chime Financial Trading Down 4.7%

CHYM stock opened at $26.19 on Friday. Chime Financial, Inc. has a 1-year low of $16.17 and a 1-year high of $44.94. The stock has a 50 day moving average of $20.15.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The company had revenue of $543.52 million during the quarter. During the same quarter last year, the firm earned ($0.34) earnings per share. Chime Financial’s revenue was up 28.8% on a year-over-year basis.

Insiders Place Their Bets

In other Chime Financial news, General Counsel Adam B. Frankel sold 1,000 shares of Chime Financial stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $25.50, for a total transaction of $25,500.00. Following the completion of the sale, the general counsel owned 252,416 shares of the company’s stock, valued at $6,436,608. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 8,260 shares of company stock worth $200,158 in the last quarter.

Chime Financial Profile

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.