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

Delta Global Management LP lifted its stake in Chime Financial, Inc. (NASDAQ:CHYM) by 18.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 860,750 shares of the company’s stock after buying an additional 131,367 shares during the quarter. Chime Financial makes up about 1.3% of Delta Global Management LP’s investment portfolio, making the stock its 27th largest position. Delta Global Management LP owned about 0.22% of Chime Financial worth $16,122,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new stake in Chime Financial in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial in the 2nd quarter worth $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial during the 2nd quarter valued at about $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Chime Financial by 686.0% during the 4th 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 during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Chime Financial during the second quarter valued at about $40,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHYM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. Barclays began coverage on Chime Financial in a report on Wednesday, July 8th. They set an “overweight” rating and a $26.00 price target for the company. BMO Capital Markets reduced their price objective on Chime Financial from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Texas Capital raised Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.19.

Chime Financial Stock Down 0.3%

Shares of NASDAQ:CHYM opened at $20.69 on Friday. The firm has a fifty day simple moving average of $19.12 and a two-hundred day simple moving average of $20.98. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $36.15. The stock has a market capitalization of $7.88 billion and a P/E ratio of -2.78.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (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 firm had revenue of $647.39 million for the quarter. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts expect that Chime Financial, Inc. will post 0.3 earnings per share for the current year.

Insiders Place Their Bets

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.30% of the stock is owned by insiders.

About Chime Financial

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.