Ranger Investment Management L.P. acquired 1,188,661 shares of Chime Financial, Inc. during the second quarter. The investment totaled approximately $24.34 million according to a recent 13F filing. This new stake represents 1.5% of Ranger's total portfolio. The purchase accounts for 0.31% of Chime's outstanding shares.
Chime reported a 26.8% year-over-year revenue increase for the second quarter. Zacks Research recently upgraded the company to a strong buy rating. Morgan Stanley analysts also expressed positive sentiment toward the firm.
Major shareholder Dst Global Advisors Ltd. recently sold a substantial number of shares.