Arrowstreet Capital Limited Partnership Lowers Stake in TIM S.A. Sponsored ADR $TIMB

Arrowstreet Capital Limited Partnership reduced its position in TIM S.A. Sponsored ADR (NYSE:TIMB) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,989,366 shares of the company’s stock after selling 120,256 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.41% of TIM worth $40,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TIMB. PNC Financial Services Group Inc. lifted its stake in shares of TIM by 29.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,258 shares of the company’s stock valued at $67,000 after buying an additional 969 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in TIM during the first quarter valued at about $269,000. American Century Companies Inc. lifted its position in shares of TIM by 5.3% in the first quarter. American Century Companies Inc. now owns 352,399 shares of the company’s stock valued at $5,515,000 after acquiring an additional 17,720 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of TIM in the first quarter worth about $50,000. Finally, EntryPoint Capital LLC boosted its stake in shares of TIM by 45.1% in the first quarter. EntryPoint Capital LLC now owns 18,038 shares of the company’s stock worth $282,000 after acquiring an additional 5,605 shares during the period.

TIM Stock Down 5.1%

Shares of NYSE:TIMB opened at $21.25 on Friday. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 0.79 and a beta of 0.51. TIM S.A. Sponsored ADR has a 12 month low of $11.32 and a 12 month high of $23.88. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $22.45 and a 200 day moving average price of $20.56.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.10. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. TIM had a return on equity of 15.72% and a net margin of 15.35%. As a group, equities research analysts predict that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current year.

TIM Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, January 28th. Investors of record on Friday, October 3rd will be issued a dividend of $0.1888 per share. The ex-dividend date is Friday, October 3rd. TIM’s dividend payout ratio is presently 65.07%.

Analyst Ratings Changes

Several analysts recently issued reports on TIMB shares. Zacks Research raised TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price objective on shares of TIM from $22.00 to $24.50 and gave the company an “overweight” rating in a research report on Friday, August 8th. Hsbc Global Res raised shares of TIM from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Jefferies Financial Group lowered shares of TIM from a “buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Barclays lifted their price target on shares of TIM from $21.00 to $23.50 and gave the company an “equal weight” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.10.

TIM Profile

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.