Ritholtz Wealth Management Purchases 53,326 Shares of TIM S.A. Sponsored ADR $TIMB

Key Points

• Ritholtz Wealth Management increased its stake in TIM S.A. Sponsored ADR by 55% during the second quarter, acquiring an additional 53,326 shares for a total of 150,352 shares valued at approximately $3 million.
• Several hedge funds significantly boosted their holdings in TIM, with GAMMA Investing LLC increasing its position by an extraordinary 3,331.4% in the first quarter.
• The company recently announced a special dividend of $0.1888 per share, payable on January 28th, with an ex-dividend date of October 3rd.

Ritholtz Wealth Management boosted its position in shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 55.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 150,352 shares of the company's stock after buying an additional 53,326 shares during the quarter. Ritholtz Wealth Management's holdings in TIM were worth $3,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TIMB. GAMMA Investing LLC raised its holdings in TIM by 3,331.4% during the 1st quarter. GAMMA Investing LLC now owns 47,388 shares of the company's stock valued at $742,000 after buying an additional 46,007 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in TIM by 30,036.4% during the 1st quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock valued at $53,000 after buying an additional 3,304 shares during the last quarter. Blue Trust Inc. raised its holdings in TIM by 26.2% during the 1st quarter. Blue Trust Inc. now owns 7,687 shares of the company's stock valued at $120,000 after buying an additional 1,597 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in 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 last quarter. Finally, Cerity Partners LLC raised its holdings in TIM by 73.1% during the 1st quarter. Cerity Partners LLC now owns 47,871 shares of the company's stock valued at $749,000 after buying an additional 20,222 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TIMB shares. Citigroup started coverage on shares of TIM in a report on Wednesday, September 10th. They set a "buy" rating for the company. Wall Street Zen upgraded shares of TIM from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 20th. Barclays upped their price target on shares of TIM from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, October 6th. Scotiabank upped their price objective on shares of TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of TIM in a report on Tuesday. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $21.50.

TIM Stock Up 2.4%

Shares of NYSE TIMB opened at $21.20 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54. TIM S.A. Sponsored ADR has a 12 month low of $11.32 and a 12 month high of $22.47. The firm has a market capitalization of $10.27 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 0.80 and a beta of 0.65. The firm has a fifty day simple moving average of $21.16 and a two-hundred day simple moving average of $18.82.

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

TIM Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Friday, October 3rd will be given a $0.1888 dividend. The ex-dividend date of this dividend is Friday, October 3rd. TIM's dividend payout ratio is currently 72.09%.

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.

Want to see what other hedge funds are holding TIMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.