Ranger Investment Management L.P. Makes New $24.34 Million Investment in Chime Financial, Inc. $CHYM

Ranger Investment Management L.P. purchased a new stake in Chime Financial, Inc. (NASDAQ:CHYM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,188,661 shares of the company’s stock, valued at approximately $24,344,000. Chime Financial accounts for 1.5% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors also recently modified their holdings of CHYM. JPMorgan Chase & Co. acquired a new position in shares of Chime Financial during the second quarter worth about $693,000. Legal & General Group Plc acquired a new stake in Chime Financial in the 2nd quarter valued at approximately $136,000. Russell Investments Group Ltd. bought a new stake in Chime Financial in the 2nd quarter valued at approximately $958,000. EverSource Wealth Advisors LLC bought a new stake in Chime Financial in the 2nd quarter valued at approximately $33,000. Finally, Marshall Wace LLP acquired a new position in Chime Financial during the 2nd quarter worth approximately $9,087,000.

Analysts Set New Price Targets

CHYM has been the subject of several research reports. Zacks Research raised shares of Chime Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Piper Sandler boosted their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Wells Fargo & Company increased their target price on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. UBS Group increased their target price on shares of Chime Financial from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and an average target price of $31.39.

More Chime Financial News

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Zacks Research upgraded Chime Financial from “hold” to “strong buy.” Zacks also highlighted the stock’s recent momentum and improving earnings expectations, reinforcing the bullish case for CHYM. Zacks upgrade
• Positive Sentiment: A Morgan Stanley analyst reportedly expects Chime Financial shares to rise, adding further support from Wall Street to the recent advance. Morgan Stanley outlook
• Positive Sentiment: Chime’s latest quarterly results exceeded expectations, with earnings of $0.07 per share versus the $0.01-per-share loss analysts expected. Revenue increased 26.8% year over year to approximately $669.8 million, signaling improving operating performance.
• Neutral Sentiment: Chief Executive Officer Chris Britt is scheduled to participate in a Goldman Sachs technology conference on September 9. Any updated guidance or commentary could influence investor sentiment, but the event has no immediate financial impact. Goldman Sachs conference announcement
• Negative Sentiment: Major shareholder Global Advisors Ltd. Dst sold 4.46 million CHYM shares for about $145.5 million on August 19, after selling 353,812 shares worth roughly $11.4 million on August 18. The transactions reduced its position by 91.66% and 44.16%, respectively, and could pressure the stock if continued selling increases available supply. SEC insider transaction filing

Insider Activity at Chime Financial

In related news, CFO Matthew S. Newcomb sold 65,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $30.17, for a total transaction of $1,961,050.00. Following the transaction, the chief financial officer directly owned 2,216,070 shares in the company, valued at approximately $66,858,831.90. The trade was a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ryan A. King sold 375,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $30.27, for a total transaction of $11,351,250.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 9,701,440 shares of company stock worth $313,102,529. Insiders own 12.30% of the company’s stock.

Chime Financial Stock Performance

CHYM opened at $32.78 on Monday. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $33.74. The firm has a market capitalization of $12.41 billion, a PE ratio of -468.22 and a beta of 0.31. The business’s 50-day simple moving average is $23.39 and its 200 day simple moving average is $21.22.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $669.77 million during the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the company posted ($7.29) earnings per share. On average, research analysts forecast that Chime Financial, Inc. will post 0.41 earnings per share for the current year.

Chime Financial 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.