Cannon Global Investment Management LLC Buys Shares of 31,004 Chime Financial, Inc. $CHYM

Cannon Global Investment Management LLC bought a new stake in Chime Financial, Inc. (NASDAQ:CHYM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,004 shares of the company’s stock, valued at approximately $581,000.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in shares of Chime Financial during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial during the 2nd quarter worth $33,000. Scopus Asset Management L.P. acquired a new position in shares of Chime Financial in the second quarter worth about $34,000. Caitong International Asset Management Co. Ltd raised its position 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. bought a new position in Chime Financial during the 2nd quarter valued at $40,000.

Chime Financial Trading Up 11.2%

NASDAQ:CHYM opened at $20.31 on Friday. The business’s fifty day moving average price is $19.00 and its 200 day moving average price is $21.62. The firm has a market capitalization of $7.74 billion and a price-to-earnings ratio of -2.73. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $38.67.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The firm 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 business’s revenue was up 24.8% on a year-over-year basis. Equities analysts forecast that Chime Financial, Inc. will post 0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the transaction, the general counsel directly owned 303,795 shares of the company’s stock, valued at approximately $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 12.30% of the company’s stock.

Analyst Ratings Changes

CHYM has been the topic of a number of recent research reports. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Wells Fargo & Company boosted their price objective on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. KeyCorp began coverage on Chime Financial in a research note on Wednesday, March 4th. They set an “overweight” rating and a $30.00 target price for the company. Finally, BMO Capital Markets began coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued 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 currently has an average rating of “Moderate Buy” and an average target price of $31.65.

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.