BlueCrest Capital Management Ltd Takes Position in Chime Financial, Inc. $CHYM

BlueCrest Capital Management Ltd purchased a new position in Chime Financial, Inc. (NASDAQ:CHYM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 225,000 shares of the company’s stock, valued at approximately $7,765,000. BlueCrest Capital Management Ltd owned approximately 0.06% of Chime Financial at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial during the second quarter valued at approximately $33,000. Daiwa Securities Group Inc. bought a new position in shares of Chime Financial during the 2nd quarter valued at approximately $40,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Chime Financial during the 2nd quarter valued at $113,000. Legal & General Group Plc bought a new stake in Chime Financial in the second quarter worth $136,000. Finally, Raymond James Financial Inc. bought a new stake in Chime Financial in the second quarter worth $159,000.

Insider Transactions at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 6,760 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $23.84, for a total transaction of $161,158.40. Following the transaction, the general counsel directly owned 244,416 shares in the company, valued at $5,826,877.44. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 8,260 shares of company stock valued at $200,158 over the last quarter.

Chime Financial Price Performance

Shares of CHYM opened at $26.19 on Friday. Chime Financial, Inc. has a 1-year low of $16.17 and a 1-year high of $44.94. The firm’s 50-day moving average is $20.15.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The company had revenue of $543.52 million during the quarter. Chime Financial’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the business posted ($0.34) earnings per share.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Piper Sandler cut their price target on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Keefe, Bruyette & Woods reduced their price objective on shares of Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Arete Research upgraded Chime Financial to a “strong-buy” rating in a research report on Tuesday, September 30th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 target price on shares of Chime Financial in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Chime Financial Profile

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.