Insider Selling: TIM (NYSE:TIMB) CFO Sells 18,000 Shares of Company Stock

Key Points

• TIM CFO Marques Andrea Palma Viegas sold 18,000 shares for $70,380, reducing his stake by 16.47%; he retained 91,301 shares after the transaction.
• TIM reported quarterly EPS of $0.46, beating the $0.43 consensus, while revenue of $1.36 billion came in just below estimates.
• Analysts have a consensus Hold rating and a $23.98 target price; Barclays raised its target to $22 while maintaining an equal-weight rating.

TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report) CFO Marques Andrea Palma Viegas sold 18,000 shares of TIM stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $3.91, for a total value of $70,380.00. Following the completion of the sale, the chief financial officer owned 91,301 shares of the company's stock, valued at approximately $356,986.91. The trade was a 16.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

TIM Trading Up 0.4%

Shares of TIMB stock traded up $0.08 during trading hours on Friday, hitting $19.08. 438,342 shares of the company were exchanged, compared to its average volume of 503,799. The company has a 50 day simple moving average of $18.48 and a two-hundred day simple moving average of $21.93. The firm has a market cap of $9.13 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.78 and a beta of 0.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85. TIM S.A. Sponsored ADR has a fifty-two week low of $15.94 and a fifty-two week high of $28.22.

TIM (NYSE:TIMB - Get Free Report) last issued its earnings results on Monday, November 9th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. TIM had a net margin of 14.76% and a return on equity of 17.88%. Equities analysts anticipate that TIM S.A. Sponsored ADR will post 1.79 EPS for the current year.

TIM Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, January 29th. Stockholders of record on Monday, September 28th will be given a dividend of $0.2102 per share. The ex-dividend date of this dividend is Monday, September 28th. TIM's dividend payout ratio is 64.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIMB. Hsbc Holdings PLC grew its holdings in TIM by 55.5% during the first quarter. Hsbc Holdings PLC now owns 135,167 shares of the company's stock worth $3,578,000 after buying an additional 48,232 shares in the last quarter. Bank of America Corp DE lifted its stake in TIM by 199.8% during the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company's stock valued at $6,658,000 after acquiring an additional 167,504 shares in the last quarter. Assetmark Inc. boosted its holdings in TIM by 19.0% during the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company's stock worth $12,993,000 after acquiring an additional 78,379 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in TIM by 47.8% during the 1st quarter. NewEdge Advisors LLC now owns 21,510 shares of the company's stock worth $570,000 after acquiring an additional 6,959 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of TIM in the 1st quarter worth $206,000.

Analyst Ratings Changes

A number of brokerages recently commented on TIMB. Barclays boosted their target price on TIM from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday. Weiss Ratings lowered TIM from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, October 23rd. Wall Street Zen cut TIM from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Morgan Stanley restated a "market perform" rating and set a $22.00 price objective on shares of TIM in a report on Thursday, August 20th. Finally, Bank of America upgraded TIM from an "underperform" rating to a "neutral" rating in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, TIM currently has an average rating of "Hold" and a consensus target price of $23.98.

TIM Company Profile

TIM S.A. is a Brazilian telecommunications company that provides mobile voice and data services to consumers and businesses. Its offerings include mobile plans, internet access and digital services, supported by its wireless network. The company also offers fixed broadband services, including fiber-optic internet, under the TIM brand. It serves customers across Brazil, with mobile coverage extending throughout the country. TIM began operating in Brazil in 1998 and has since expanded its network and range of telecommunications services.

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