Connor Clark & Lunn Investment Management Ltd. Has $5.72 Million Stock Position in TIM S.A. Sponsored ADR (NYSE:TIMB)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in TIM S.A. by 32.7%, now owning approximately 365,223 shares valued at around $5.72 million.
• Itau Unibanco Holding S.A. increased its holdings by 64.9% during the previous quarter, now possessing 1.77 million shares worth approximately $20.81 million.
• Analysts have mixed views on TIM, with JPMorgan Chase raising its price target to $24.50, while HSBC downgraded its rating from "strong-buy" to "hold".

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 32.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,223 shares of the company's stock after selling 177,599 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of TIM worth $5,716,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of TIM by 3,331.4% in the 1st quarter. GAMMA Investing LLC now owns 47,388 shares of the company's stock worth $742,000 after buying an additional 46,007 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of TIM by 26.2% in the 1st quarter. Blue Trust Inc. now owns 7,687 shares of the company's stock worth $120,000 after acquiring an additional 1,597 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of TIM in the 4th quarter worth $330,000. BNP Paribas Financial Markets acquired a new position in shares of TIM in the 4th quarter worth $338,000. Finally, Millennium Management LLC grew its holdings in shares of TIM by 68.8% in the 4th quarter. Millennium Management LLC now owns 34,106 shares of the company's stock worth $401,000 after acquiring an additional 13,905 shares during the last quarter.

TIM Stock Performance

TIMB traded up $0.25 on Friday, hitting $20.78. 283,420 shares of the stock traded hands, compared to its average volume of 420,730. TIM S.A. Sponsored ADR has a 52 week low of $11.32 and a 52 week high of $21.03. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $10.06 billion, a PE ratio of 16.11, a P/E/G ratio of 0.82 and a beta of 0.60. The business has a fifty day moving average price of $19.22 and a two-hundred day moving average price of $16.84.

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

TIM Cuts Dividend

The company also recently disclosed a -- dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, August 4th will be issued a dividend of $0.1189 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a yield of 720.0%. TIM's dividend payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

TIMB has been the topic of a number of recent research reports. Hsbc Global Res cut TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. HSBC cut TIM to a "hold" rating in a report on Friday, June 13th. The Goldman Sachs Group lifted their price target on TIM from $15.30 to $16.90 and gave the company a "neutral" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. lifted 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. Finally, Barclays lifted their price target on TIM from $17.50 to $20.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $21.25.

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.