CTC Alternative Strategies Ltd. Takes Position in Chime Financial, Inc. $CHYM

CTC Alternative Strategies Ltd. bought a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,610 shares of the company’s stock, valued at approximately $798,000. Chime Financial comprises about 1.8% of CTC Alternative Strategies Ltd.’s portfolio, making the stock its 15th largest holding.

A number of other institutional investors have also modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial in the 2nd quarter valued at $33,000. Scopus Asset Management L.P. purchased a new position in Chime Financial during the 2nd quarter worth $34,000. PNC Financial Services Group Inc. purchased a new position in Chime Financial during the 4th quarter worth $25,000. Daiwa Securities Group Inc. acquired a new position in Chime Financial in the second quarter valued at $40,000. Finally, Osaic Holdings Inc. acquired a new position in Chime Financial in the second quarter valued at $45,000.

Chime Financial Stock Performance

Shares of Chime Financial stock opened at $22.99 on Friday. Chime Financial, Inc. has a one year low of $15.88 and a one year high of $35.34. The company has a market cap of $8.76 billion and a P/E ratio of -3.09. The firm has a fifty day moving average of $19.60 and a two-hundred day moving average of $20.81.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The business had revenue of $647.39 million for the quarter. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities analysts predict 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 firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the sale, the general counsel owned 303,795 shares in the company, valued at $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

CHYM has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Barclays initiated coverage on Chime Financial in a report on Wednesday, July 8th. They set an “overweight” rating and a $26.00 price target on the stock. Wells Fargo & Company boosted their price target on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Freedom Capital raised Chime Financial to a “strong-buy” rating in a research note on Thursday, July 23rd. Finally, Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and lowered their target price for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Five research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial currently has an average rating of “Buy” and a consensus target price of $29.19.

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.