Public Employees Retirement System of Ohio Makes New $1.52 Million Investment in Chime Financial, Inc. $CHYM

Public Employees Retirement System of Ohio bought a new stake in Chime Financial, Inc. (NASDAQ:CHYM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 74,052 shares of the company's stock, valued at approximately $1,517,000.

A number of other hedge funds have also modified their holdings of CHYM. JPMorgan Chase & Co. acquired a new stake in shares of Chime Financial during the 2nd quarter worth about $693,000. Legal & General Group Plc acquired a new position in Chime Financial in the second quarter valued at about $136,000. Russell Investments Group Ltd. purchased a new position in Chime Financial during the second quarter worth about $958,000. EverSource Wealth Advisors LLC purchased a new position in Chime Financial during the second quarter worth about $33,000. Finally, Marshall Wace LLP acquired a new stake in shares of Chime Financial during the second quarter valued at about $9,087,000.

Chime Financial Stock Performance

Shares of CHYM opened at $33.76 on Tuesday. The stock has a market capitalization of $12.78 billion, a PE ratio of -482.22 and a beta of 0.60. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $34.44. The company's 50-day simple moving average is $26.75 and its 200-day simple moving average is $22.16.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm had revenue of $669.77 million during the quarter. During the same quarter last year, the firm posted ($7.29) EPS. The company's revenue for the quarter was up 26.8% on a year-over-year basis. On average, sell-side analysts predict that Chime Financial, Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $33.04, for a total transaction of $38,612,757.68. Following the sale, the insider owned 369,370 shares of the company's stock, valued at approximately $12,203,984.80. This represents a 75.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher R. Britt sold 200,000 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $32.04, for a total value of $6,408,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 13,879,790 shares of company stock worth $451,025,723. 12.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

CHYM has been the topic of a number of research analyst reports. Scotiabank began coverage on shares of Chime Financial in a research note on Wednesday, September 2nd. They issued a "sector outperform" rating and a $40.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of Chime Financial from $33.00 to $39.00 and gave the company an "overweight" rating in a report on Tuesday, August 25th. Weiss Ratings raised Chime Financial from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. Barclays boosted their target price on Chime Financial from $26.00 to $33.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Wolfe Research raised their price target on Chime Financial from $32.00 to $38.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.74.

About Chime Financial

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.

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