Arrowstreet Capital Limited Partnership Decreases Stock Position in TIM S.A. Sponsored ADR $TIMB

Arrowstreet Capital Limited Partnership reduced its position in shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,198,675 shares of the company's stock after selling 400,021 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.25% of TIM worth $31,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TIMB. Wells Fargo & Company MN grew its holdings in TIM by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company's stock worth $27,000 after acquiring an additional 494 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of TIM in the fourth quarter valued at $39,000. EverSource Wealth Advisors LLC grew its holdings in TIM by 188.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company's stock worth $41,000 after acquiring an additional 1,345 shares in the last quarter. Raymond James Financial Inc. bought a new position in TIM in the second quarter worth about $42,000. Finally, Atlas Capital Advisors Inc. bought a new position in TIM in the 4th quarter worth approximately $56,000.

TIM Price Performance

Shares of TIMB opened at $19.82 on Wednesday. The business has a 50-day simple moving average of $21.78 and a two-hundred day simple moving average of $23.87. TIM S.A. Sponsored ADR has a 12-month low of $17.65 and a 12-month high of $28.22. The stock has a market cap of $9.60 billion, a PE ratio of 11.73, a PEG ratio of 1.08 and a beta of 0.38. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $0.08 earnings per share (EPS) for the quarter. TIM had a return on equity of 18.42% and a net margin of 15.73%. Analysts anticipate that TIM S.A. Sponsored ADR will post 1.8 earnings per share for the current fiscal year.

TIM Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th will be given a dividend of $0.1618 per share. The ex-dividend date is Monday, June 29th. TIM's dividend payout ratio is currently 68.90%.

Insider Activity

In related news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total value of $151,200.00. Following the transaction, the chief financial officer directly owned 83,259 shares of the company's stock, valued at approximately $359,678.88. This trade represents a 29.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Auana Mattar Lima sold 8,200 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $4.42, for a total value of $36,244.00. Following the completion of the transaction, the insider owned 36,686 shares in the company, valued at approximately $162,152.12. This trade represents a 18.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Upgrades and Downgrades

Several brokerages have commented on TIMB. Wall Street Zen downgraded shares of TIM from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 25th. Santander upgraded shares of TIM from a "neutral" rating to an "outperform" rating in a research note on Monday, June 22nd. Scotiabank boosted their price objective on TIM from $27.00 to $28.50 and gave the stock a "sector perform" rating in a research note on Wednesday, May 27th. The Goldman Sachs Group began coverage on TIM in a research report on Monday, May 18th. They set a "neutral" rating and a $23.40 target price for the company. Finally, Barclays lowered their price target on TIM from $28.00 to $24.00 and set an "equal weight" rating for the company in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.23.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA

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