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

Key Points

• Acadian Asset Management LLC significantly reduced its position in TIM S.A. Sponsored ADR by 78.4% during the first quarter, leaving it with 102,590 shares valued at $1,605,000.
• Goldman Sachs increased its shareholdings in TIM by 4.7%, while Banco BTG Pactual S.A. notably boosted its holdings by 1,302.9%, indicating a trend among institutional investors to actively adjust their positions in the company.
• The company's stock received various ratings upgrades from analysts, with JPMorgan Chase & Co. raising its price target from $22.00 to $24.50 and maintaining an "overweight" rating.

Acadian Asset Management LLC decreased its position in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 78.4% during the 1st quarter, according to its most recent disclosure 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 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in TIM by 119.3% in the 1st quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock worth $47,000 after acquiring an additional 1,647 shares in the last quarter. Brooklyn Investment Group acquired a new position in TIM during the first quarter worth $50,000. Farther Finance Advisors LLC increased its position in shares of TIM by 30,036.4% during the first quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock worth $53,000 after purchasing an additional 3,304 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of TIM during the 1st quarter worth $64,000. Finally, PNC Financial Services Group Inc. grew its holdings 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 worth $67,000 after purchasing an additional 969 shares during the period.

Analyst Upgrades and Downgrades

TIMB has been the topic of a number of research reports. Scotiabank raised their price target on TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. HSBC downgraded TIM to a "hold" rating in a research report on Friday, June 13th. Hsbc Global Res cut TIM from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. increased their price objective on TIM from $22.00 to $24.50 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Barclays lifted their target price on TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, TIM has an average rating of "Hold" and a consensus target price of $21.25.

TIM Stock Performance

TIMB traded up $0.15 during midday trading on Friday, reaching $21.71. The company had a trading volume of 141,716 shares, compared to its average volume of 518,966. The business has a 50-day moving average price of $20.06 and a two-hundred day moving average price of $17.99. The stock has a market cap of $10.51 billion, a PE ratio of 16.83, a P/E/G ratio of 0.85 and a beta of 0.69. TIM S.A. Sponsored ADR has a 12-month low of $11.32 and a 12-month high of $21.84. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.88 and a current ratio of 0.91.

TIM (NYSE:TIMB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $6.62 billion. TIM had a return on equity of 13.99% and a net margin of 13.91%. On average, sell-side analysts expect that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current fiscal year.

TIM Cuts Dividend

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