CTC Alternative Strategies Ltd. Purchases New Stake in Chime Financial, Inc. $CHYM

CTC Alternative Strategies Ltd. acquired a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 42,610 shares of the company’s stock, valued at approximately $798,000. Chime Financial comprises 1.8% of CTC Alternative Strategies Ltd.’s holdings, making the stock its 15th largest holding.

Several other large investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in Chime Financial in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new position in shares of Chime Financial in the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. purchased a new position in shares of Chime Financial in the 2nd quarter valued at about $34,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Chime Financial by 686.0% in 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 in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Chime Financial in the second quarter valued at about $40,000.

Chime Financial Stock Up 1.7%

NASDAQ:CHYM opened at $22.99 on Friday. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $35.34. The stock has a fifty day simple moving average of $19.60 and a 200-day simple moving average of $20.81. The company has a market capitalization of $8.76 billion and a PE ratio of -3.09.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates 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. Chime Financial’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 earnings per share for the current year.

Insider Activity

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the sale, the general counsel owned 303,795 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

CHYM has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective 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. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research 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 Friday. Finally, Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $33.00 to $27.00 in a report on Monday, April 13th. Five equities research analysts have rated the stock with a Strong Buy rating, ten 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 currently has a consensus rating of “Buy” and an average target price of $29.19.

Chime Financial Company 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.