Short Interest in TIM S.A. Sponsored ADR (NYSE:TIMB) Drops By 55.7%

Key Points

• Short interest in TIM S.A. Sponsored ADR (NYSE:TIMB) fell sharply in May, dropping 55.7% to 1,384,993 shares. That leaves about 0.3% of the company’s shares sold short, with a short-interest ratio of 2.5 days.
• The stock traded lower, falling 1.2% to $21.99 during the session described. TIM’s recent earnings also came in slightly below expectations, with EPS of $0.32 versus the $0.34 consensus and revenue of $1.31 billion versus $1.32 billion expected.
• Analyst sentiment remains cautious, with MarketBeat showing a consensus rating of “Hold” and a consensus price target of $25.90. Recent updates were mixed, including both price-target increases and rating downgrades.

TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 1,384,993 shares, a decline of 55.7% from the April 30th total of 3,127,979 shares. Based on an average trading volume of 552,669 shares, the short-interest ratio is presently 2.5 days. Approximately 0.3% of the shares of the company are sold short.

TIM Trading Down 1.2%

Shares of NYSE TIMB traded down $0.28 during mid-day trading on Friday, reaching $21.99. The company had a trading volume of 263,348 shares, compared to its average volume of 406,394. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.09 and a beta of 0.43. TIM has a 52 week low of $16.82 and a 52 week high of $28.22. The business's 50-day moving average is $25.01 and its 200-day moving average is $23.84. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

TIM (NYSE:TIMB - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.32 billion. TIM had a net margin of 16.00% and a return on equity of 17.77%. Equities analysts expect that TIM will post 1.8 earnings per share for the current year.

TIM Announces Dividend

The company also recently disclosed a special dividend, which was paid on Thursday, May 7th. Investors of record on Monday, March 30th were paid a $0.1552 dividend. The ex-dividend date of this dividend was Monday, March 30th. TIM's dividend payout ratio is 61.59%.

Insider Activity at TIM

In other TIM news, insider Auana Mattar Lima sold 8,200 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $4.42, for a total transaction of $36,244.00. Following the completion of the sale, the insider directly owned 36,686 shares of the company's stock, valued at approximately $162,152.12. This represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On TIM

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Inspire Investing LLC grew its position in shares of TIM by 10.1% during the 1st quarter. Inspire Investing LLC now owns 4,191 shares of the company's stock worth $111,000 after buying an additional 386 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of TIM by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company's stock valued at $27,000 after acquiring an additional 494 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in TIM by 23.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,619 shares of the company's stock worth $51,000 after acquiring an additional 504 shares during the period. NewEdge Advisors LLC grew its holdings in TIM by 5.2% during the 4th quarter. NewEdge Advisors LLC now owns 14,551 shares of the company's stock worth $283,000 after acquiring an additional 714 shares in the last quarter. Finally, DGS Capital Management LLC grew its holdings in TIM by 1.9% during the 1st quarter. DGS Capital Management LLC now owns 40,919 shares of the company's stock worth $1,084,000 after acquiring an additional 753 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on TIMB. Wall Street Zen lowered shares of TIM from a "strong-buy" rating to a "buy" rating in a report on Monday, May 25th. Barclays upped their price target on shares of TIM from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Scotiabank raised their price objective on shares of TIM from $27.00 to $28.50 and gave the company a "sector perform" rating in a research report on Wednesday. Weiss Ratings cut shares of TIM from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 7th. Finally, New Street Research raised shares of TIM from a "neutral" rating to a "buy" rating in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $25.90.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA

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