Cubist Systematic Strategies LLC Sells 44,405 Shares of TIM S.A. Sponsored ADR $TIMB

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in TIM S.A. Sponsored ADR by 29.7%, now owning 105,315 shares valued at approximately $1.65 million.
• TIM's quarterly earnings were reported at $0.35 EPS, exceeding estimates of $0.31, with revenue reaching $1.18 billion.
• The company recently announced a special dividend of $0.1189 per share, which will be paid on October 28th, contributing to a significant dividend yield of 720.0%.

Cubist Systematic Strategies LLC decreased its position in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,315 shares of the company's stock after selling 44,405 shares during the period. Cubist Systematic Strategies LLC's holdings in TIM were worth $1,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. lifted 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 buying an additional 57,562 shares during the period. American Century Companies Inc. raised its holdings in shares of TIM by 5.3% during 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 period. Assetmark Inc. raised its holdings in shares of TIM by 18.0% during 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 period. Banco BTG Pactual S.A. raised its holdings in shares of TIM by 1,302.9% during 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 period. Finally, Altman Advisors Inc. acquired a new position in shares of TIM during the first quarter valued at about $1,979,000.

TIM Stock Up 0.6%

Shares of NYSE:TIMB traded up $0.13 during midday trading on Friday, hitting $21.07. 98,901 shares of the company's stock were exchanged, compared to its average volume of 507,392. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a 50 day moving average price of $19.85 and a 200-day moving average price of $17.68. The company has a market cap of $10.20 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 0.82 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 $21.57.

TIM (NYSE:TIMB - Get Free Report) last posted 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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $6.62 billion. TIM had a net margin of 13.91% and a return on equity of 13.99%. On average, sell-side analysts anticipate 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 special dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, August 4th will be given a $0.1189 dividend. This represents a yield of 720.0%. The ex-dividend date of this dividend is Monday, August 4th. TIM's dividend payout ratio is presently 67.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TIMB shares. JPMorgan Chase & Co. upped their price objective on shares of TIM from $22.00 to $24.50 and gave the company an "overweight" rating in a report on Friday, August 8th. Wall Street Zen lowered shares of TIM from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Barclays upped their price objective on shares of TIM from $17.50 to $20.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Scotiabank upped their price objective on shares of TIM from $19.10 to $23.60 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Finally, Hsbc Global Res lowered shares of TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.