Krilogy Financial LLC Acquires 21,207 Shares of Chime Financial, Inc. $CHYM

Krilogy Financial LLC acquired a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 21,207 shares of the company’s stock, valued at approximately $565,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Chime Financial by 2,720.3% during the first 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 last quarter. Spyglass Capital Management LLC grew its stake in Chime Financial by 162.6% in the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock worth $69,760,000 after purchasing an additional 2,109,057 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in Chime Financial in the second quarter valued at about $24,344,000. Renaissance Technologies LLC bought a new stake in Chime Financial in the first quarter valued at about $15,334,000. Finally, Bank of New York Mellon Corp bought a new stake in Chime Financial in the second quarter valued at about $13,453,000.

Chime Financial Stock Performance

Shares of NASDAQ:CHYM opened at $29.67 on Friday. The company’s fifty day moving average is $30.83 and its two-hundred day moving average is $23.94. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $35.55. The stock has a market capitalization of $11.23 billion, a price-to-earnings ratio of -423.80 and a beta of 0.83.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The company had revenue of $669.77 million for the quarter. During the same quarter in the previous year, the business posted ($7.29) earnings per share. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. Sell-side analysts expect that Chime Financial, Inc. will post 0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on CHYM shares. Raymond James Financial set a $35.00 price objective on Chime Financial in a research note on Thursday, October 8th. Weiss Ratings upgraded Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 3rd. Wolfe Research lifted their target price on Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Loop Capital assumed coverage on Chime Financial in a report on Wednesday, September 9th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Scotiabank upped their price target on Chime Financial from $40.00 to $42.00 and gave the company a “sector outperform” rating in a research report on Wednesday, September 9th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.38.

Insider Activity

In related news, Director Cynthia Marshall sold 20,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $33.09, for a total transaction of $661,800.00. Following the sale, the director owned 28,548 shares in the company, valued at $944,653.32. This represents a 41.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan King sold 50,000 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $29.40, for a total transaction of $1,470,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,877,790 shares of company stock valued at $619,276,441 over the last quarter. Corporate insiders own 12.30% of the company’s stock.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.

The company’s product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.