Owls Nest Partners IA LLC Acquires New Shares in Chime Financial, Inc. $CHYM

Owls Nest Partners IA LLC acquired a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,869,880 shares of the company’s stock, valued at approximately $47,065,000. Chime Financial accounts for about 13.0% of Owls Nest Partners IA LLC’s investment portfolio, making the stock its 4th biggest holding. Owls Nest Partners IA LLC owned approximately 0.50% of Chime Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC acquired a new position in Chime Financial during the 2nd quarter worth $33,000. Scopus Asset Management L.P. acquired a new position in Chime Financial during the 2nd quarter worth $34,000. PNC Financial Services Group Inc. acquired a new position in Chime Financial during the 4th quarter worth $25,000. Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial in the 2nd quarter worth $40,000. Finally, Osaic Holdings Inc. bought a new stake in shares of Chime Financial in the 2nd quarter worth $45,000.

Analyst Ratings Changes

CHYM has been the topic of a number of recent analyst reports. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Wells Fargo & Company lifted their price target on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and lowered their target price for the company from $33.00 to $27.00 in a research note on Monday, April 13th. UBS Group boosted their target price on Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Finally, KeyCorp assumed coverage on Chime Financial in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and an average price target of $31.65.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $18.00, for a total transaction of $54,000.00. Following the completion of the sale, the general counsel owned 306,795 shares in the company, valued at approximately $5,522,310. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.30% of the company’s stock.

Chime Financial Stock Performance

CHYM opened at $16.70 on Monday. The company has a market cap of $6.36 billion and a PE ratio of -2.25. The stock has a 50-day moving average of $19.55 and a 200-day moving average of $21.91. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $38.67.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.10. The company had revenue of $647.39 million during the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The company’s revenue was up 24.8% on a year-over-year basis. On average, research analysts predict that Chime Financial, Inc. will post 0.3 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.