Penn Mutual Asset Management Acquires 251,926 Shares of Chime Financial, Inc. $CHYM

Penn Mutual Asset Management bought a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the third quarter, HoldingsChannel.com reports. The firm bought 251,926 shares of the company’s stock, valued at approximately $6,711,000. Chime Financial accounts for approximately 29.0% of Penn Mutual Asset Management’s holdings, making the stock its biggest holding.

Several other large investors also recently bought and sold shares of CHYM. NFSG Corp purchased a new position in shares of Chime Financial in the third quarter valued at $27,000. GAMMA Investing LLC raised its stake in shares of Chime Financial by 1,316.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock worth $58,000 after buying an additional 2,014 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Chime Financial during the 1st quarter worth $44,000. IFP Advisors Inc acquired a new position in shares of Chime Financial during the 3rd quarter worth $73,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Chime Financial by 835.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,394 shares of the company’s stock worth $176,000 after buying an additional 8,390 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHYM. Raymond James Financial set a $35.00 price objective on shares of Chime Financial in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Wolfe Research lifted their target price on shares of Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Rothschild & Co Redburn upgraded shares of Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, September 14th. Three equities research 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 given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.38.

Chime Financial Stock Down 0.1%

Shares of CHYM traded down $0.04 during trading hours on Monday, reaching $29.63. 2,607,417 shares of the company traded hands, compared to its average volume of 5,476,365. The stock has a market capitalization of $11.22 billion, a PE ratio of -423.23 and a beta of 0.83. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $35.55. The stock has a fifty day simple moving average of $30.83 and a 200 day simple moving average of $23.99.

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

Insider Transactions at Chime Financial

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the sale, the insider directly owned 405,663 shares of the company’s stock, valued at $13,248,953.58. This trade represents a 91.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 18,877,790 shares of company stock valued at $619,276,441. 12.30% of the stock is currently owned by corporate insiders.

Chime Financial Profile

Chime Financial, Inc is a financial technology company that provides digital banking services through its Chime platform. The company offers consumer-focused spending, saving and credit products designed to be accessed primarily through mobile applications rather than traditional branch locations.

Chime’s products include spending accounts with debit cards, savings accounts, direct-deposit services, early access to qualifying paychecks, fee-free overdraft protection through SpotMe, and credit-building products.