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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banco BTG Pactual S.A. lifted its holdings in shares of TIM by 1,302.9% during the 1st quarter. Banco BTG Pactual S.A. now owns 260,933 shares of the company's stock valued at $4,084,000 after buying an additional 242,333 shares during the period. Altman Advisors Inc. bought a new position in shares of TIM during the 1st quarter valued at $1,979,000. Voloridge Investment Management LLC bought a new position in shares of TIM during the 4th quarter valued at $949,000. Crossmark Global Holdings Inc. lifted its holdings in shares of TIM by 10.2% during the 1st 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. Finally, Assetmark Inc. lifted its holdings in shares of TIM by 18.0% during the 1st quarter. Assetmark Inc. now owns 329,779 shares of the company's stock valued at $5,161,000 after buying an additional 50,370 shares during the period.

TIM Stock Performance

TIM stock traded up $0.32 during trading on Friday, reaching $21.26. The company had a trading volume of 422,011 shares, compared to its average volume of 520,966. TIM S.A. Sponsored ADR has a 52 week low of $11.32 and a 52 week high of $21.57. 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 $10.29 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.83 and a beta of 0.69. The firm's 50-day simple moving average is $19.86 and its 200 day simple moving average is $17.73.

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

TIM Cuts Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, August 4th will be paid a $0.1189 dividend. This represents a yield of 720.0%. The ex-dividend date is Monday, August 4th. TIM's dividend payout ratio is presently 67.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Hsbc Global Res cut TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. Barclays increased 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. JPMorgan Chase & Co. lifted their price target on shares of TIM from $22.00 to $24.50 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Scotiabank lifted their price target on shares of TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Citigroup started coverage on TIM in a report on Wednesday. They issued a "buy" rating on the stock. Three 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 currently has a consensus rating of "Hold" and an average price target of $21.25.

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.