Acadian Asset Management LLC Decreases Position in TIM S.A. Sponsored ADR $TIMB

Acadian Asset Management LLC lowered its holdings in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 78.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,590 shares of the company's stock after selling 372,917 shares during the period. Acadian Asset Management LLC's holdings in TIM were worth $1,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in TIM by 4.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company's stock valued at $16,539,000 after purchasing an additional 47,130 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in TIM by 10.2% in the first quarter. Crossmark Global Holdings Inc. now owns 624,359 shares of the company's stock valued at $9,771,000 after purchasing an additional 57,562 shares during the last quarter. American Century Companies Inc. boosted its holdings in 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 purchasing an additional 17,720 shares during the last quarter. Assetmark Inc. boosted its holdings in TIM by 18.0% in the first quarter. Assetmark Inc. now owns 329,779 shares of the company's stock valued at $5,161,000 after purchasing an additional 50,370 shares during the last quarter. Finally, Banco BTG Pactual S.A. boosted its holdings in TIM by 1,302.9% in the first quarter. Banco BTG Pactual S.A. now owns 260,933 shares of the company's stock valued at $4,084,000 after purchasing an additional 242,333 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TIMB shares. JPMorgan Chase & Co. increased their price target on TIM from $22.00 to $24.50 and gave the company an "overweight" rating in a report on Friday, August 8th. Barclays upped their price objective on TIM from $17.50 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Scotiabank upped their price objective on TIM from $19.10 to $23.60 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. HSBC cut TIM to a "hold" rating in a research note on Friday, June 13th. Finally, Wall Street Zen cut TIM from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $21.25.

TIM Stock Performance

Shares of NYSE TIMB opened at $21.50 on Wednesday. The stock has a fifty day moving average price of $19.91 and a two-hundred day moving average price of $17.86. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market cap of $10.41 billion, a P/E ratio of 16.67, a PEG ratio of 0.84 and a beta of 0.69. TIM S.A. Sponsored ADR has a 1 year low of $11.32 and a 1 year high of $21.57.

TIM (NYSE:TIMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $6.62 billion. TIM had a return on equity of 13.99% and a net margin of 13.91%. Research analysts forecast that TIM S.A. Sponsored ADR will post 1.34 EPS for the current fiscal year.

TIM Cuts Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.1189 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a dividend yield of 720.0%. TIM's dividend payout ratio (DPR) is currently 67.44%.

About TIM

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.

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