Ranger Investment Management L.P. Has $16.86 Million Stake in Chime Financial, Inc. $CHYM

Ranger Investment Management L.P. lifted its stake in Chime Financial, Inc. (NASDAQ:CHYMFree Report) by 52.3% in the first quarter, Holdings Channel.com reports. The firm owned 900,285 shares of the company’s stock after acquiring an additional 309,030 shares during the quarter. Ranger Investment Management L.P.’s holdings in Chime Financial were worth $16,862,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new position in Chime Financial during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial in the 2nd quarter worth approximately $33,000. Scopus Asset Management L.P. purchased a new stake in Chime Financial in the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd boosted its stake 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 buying an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Chime Financial during the 2nd quarter valued at $40,000.

Insider Activity

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the sale, the general counsel directly owned 303,795 shares in the company, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CHYM shares. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Freedom Capital raised Chime Financial to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Texas Capital raised Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Five 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $29.19.

Read Our Latest Stock Report on Chime Financial

Chime Financial Stock Up 2.3%

NASDAQ CHYM opened at $22.37 on Wednesday. The stock has a market capitalization of $8.52 billion and a PE ratio of -3.01. The company has a 50 day moving average price of $19.31 and a two-hundred day moving average price of $20.87. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $35.34.

Chime Financial (NASDAQ:CHYMGet Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping 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 company 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. As a group, equities analysts anticipate that Chime Financial, Inc. will post 0.3 EPS for the current year.

Chime Financial Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Chime Financial (NASDAQ:CHYM)

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