280,251 Shares in Chime Financial, Inc. $CHYM Bought by Broad Bay Capital Management LP

Broad Bay Capital Management LP bought a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 280,251 shares of the company’s stock, valued at approximately $9,671,000. Chime Financial makes up approximately 1.1% of Broad Bay Capital Management LP’s holdings, making the stock its 20th largest holding. Broad Bay Capital Management LP owned approximately 0.08% of Chime Financial as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CHYM. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial during the second quarter worth about $33,000. Daiwa Securities Group Inc. acquired a new stake in Chime Financial in the 2nd quarter worth approximately $40,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Chime Financial during the 2nd quarter worth approximately $113,000. Legal & General Group Plc purchased a new stake in Chime Financial during the 2nd quarter worth approximately $136,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Chime Financial during the 2nd quarter valued at approximately $173,000.

Analysts Set New Price Targets

Several research firms have recently commented on CHYM. UBS Group lowered their price objective on shares of Chime Financial from $37.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. The Goldman Sachs Group upgraded Chime Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $26.00 to $27.00 in a research note on Monday, December 1st. JPMorgan Chase & Co. reduced their price objective on Chime Financial from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Jefferies Financial Group initiated coverage on Chime Financial in a report on Monday, November 3rd. They set a “hold” rating and a $17.00 target price for the company. Finally, Williams Trading set a $17.00 price target on shares of Chime Financial in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.07.

Chime Financial Trading Up 1.5%

Shares of CHYM opened at $24.29 on Wednesday. Chime Financial, Inc. has a 52 week low of $16.17 and a 52 week high of $44.94. The business has a 50-day moving average of $19.78.

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

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.