M&G PLC Makes New Investment in Chime Financial, Inc. $CHYM

M&G PLC purchased a new position in Chime Financial, Inc. (NASDAQ:CHYM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 444,957 shares of the company’s stock, valued at approximately $12,014,000.

Other large investors also recently modified their holdings of the company. NFSG Corp bought a new stake in shares of Chime Financial during the third quarter valued at about $27,000. Reyes Financial Architecture Inc. acquired a new stake in Chime Financial in the third quarter worth about $39,000. Nisa Investment Advisors LLC grew its position in Chime Financial by 529.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,889 shares of the company’s stock valued at $50,000 after buying an additional 1,589 shares in the last quarter. Farther Finance Advisors LLC grew its position in Chime Financial by 2.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 72,666 shares of the company’s stock valued at $1,936,000 after buying an additional 1,672 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Chime Financial by 1,316.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock valued at $58,000 after buying an additional 2,014 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Chime Financial from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday. Wells Fargo & Company upped their price target on shares of Chime Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. KeyCorp raised their price objective on shares of Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, September 9th. Finally, B. Riley Financial boosted their target price on Chime Financial from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $39.47.

Insider Buying and Selling

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 1,319,027 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $31.13, for a total value of $41,061,310.51. Following the completion of the sale, the insider directly owned 324,365 shares of the company’s stock, valued at approximately $10,097,482.45. This represents a 80.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan King sold 63,382 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $31.32, for a total transaction of $1,985,124.24. Following the transaction, the insider owned 37,812 shares of the company’s stock, valued at approximately $1,184,271.84. This trade represents a 62.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,634,736 shares of company stock worth $546,765,870 in the last ninety days. Insiders own 12.30% of the company’s stock.

Chime Financial Stock Up 0.0%

Shares of Chime Financial stock opened at $32.54 on Wednesday. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 141.43 and a beta of 0.74. The business has a fifty day simple moving average of $29.91 and a 200-day simple moving average of $23.96. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $35.55.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $718.00 million during the quarter. Chime Financial had a return on equity of 6.72% and a net margin of 3.05%. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) EPS. Analysts anticipate that Chime Financial, Inc. will post 0.47 earnings per share for the current fiscal year.

Key Headlines Impacting Chime Financial

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

• Positive Sentiment: Upbeat earnings outlook: Zacks said rising earnings estimates could support further gains. Chime’s latest reported quarter also beat EPS expectations and delivered 32.1% year-over-year revenue growth, providing a positive fundamental backdrop. Article: Surging Earnings Estimates Signal Upside
• Positive Sentiment: Momentum appeal: Zacks also characterized CHYM as a long-term momentum stock, potentially attracting investors focused on stronger-performing shares. Article: Why Chime Is a Top Momentum Stock
• Neutral Sentiment: Short-interest data is unclear: One report describes a large increase but gives short interest as zero shares and a 0.0-day ratio. The figures appear inconsistent, so they do not establish short-covering as a meaningful catalyst.
• Neutral Sentiment: Mixed analyst signal: Monness maintained a Hold rating, while the cited broader analyst consensus was Moderate Buy. Article: Monness Maintains Hold Rating
• Negative Sentiment: Large shareholder selling: Global Advisors Ltd Dst sold 1,319,027 shares for about $41.1 million on November 6, an 80.26% reduction in its position. The additional reported sale of 10,740 shares adds to the potential supply overhang and may unsettle investors. Article: Chime Major Shareholder Sales

About Chime Financial

Chime Financial operates a digital financial services platform for consumers in the United States. Through its mobile app, the company offers spending and savings accounts, debit cards and tools for managing money. Its products also include credit-building services and features designed to help customers access direct deposits and avoid certain common banking fees. Founded in 2012 by Chris Britt and Ryan King, Chime is a financial technology company, not a bank. Banking services are provided through partner banks, including The Bancorp Bank, N.A., and Stride Bank, N.A. Chris Britt has served as the company’s chief executive officer.