Short Interest in TIM S.A. Sponsored ADR (NYSE:TIMB) Rises By 59.8%

Key Points

• Short interest in TIM S.A. rose 59.8% to 3.28 million shares as of July 31, representing about 0.7% of outstanding stock and six days to cover.
• Analysts maintain a generally neutral outlook, with an average rating of “Hold” and a consensus price target of $25.38; Barclays lowered its target to $24.00, while Goldman Sachs set a $23.40 target.
• TIM reported quarterly earnings of $0.42 per share on $1.35 billion in revenue and paid a special dividend of $0.1618 per share. The stock opened at $17.57, near its 52-week low of $17.14.

TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 3,282,612 shares, an increase of 59.8% from the July 15th total of 2,053,619 shares. Approximately 0.7% of the company's stock are sold short. Based on an average daily trading volume, of 546,197 shares, the days-to-cover ratio is presently 6.0 days.

Analysts Set New Price Targets

Several research firms have recently commented on TIMB. Zacks Research cut shares of TIM from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Weiss Ratings upgraded TIM from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. Bradesco Corretora cut TIM to a "neutral" rating in a research report on Tuesday, April 28th. Barclays reduced their price objective on TIM from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Friday, July 10th. Finally, The Goldman Sachs Group assumed coverage on TIM in a research note on Monday, May 18th. They issued a "neutral" rating and a $23.40 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $25.38.

Insiders Place Their Bets

In other TIM news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total value of $151,200.00. Following the completion of the sale, the chief financial officer owned 83,259 shares in the company, valued at $359,678.88. This represents a 29.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On TIM

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in TIM during the second quarter worth about $295,000. Eastern Bank acquired a new position in TIM in the 2nd quarter valued at approximately $34,000. NewEdge Advisors LLC raised its holdings in TIM by 47.8% in the 1st quarter. NewEdge Advisors LLC now owns 21,510 shares of the company's stock valued at $570,000 after acquiring an additional 6,959 shares in the last quarter. Bank of America Corp DE lifted its position in shares of TIM by 199.8% in the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company's stock worth $6,658,000 after acquiring an additional 167,504 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of TIM by 73.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,544 shares of the company's stock worth $120,000 after acquiring an additional 1,925 shares during the period.

TIM Trading Up 1.3%

Shares of NYSE:TIMB opened at $17.57 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85. The stock's 50-day moving average is $20.72 and its 200-day moving average is $23.52. The company has a market cap of $8.51 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.15 and a beta of 0.40. TIM has a 52-week low of $17.14 and a 52-week high of $28.22.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. The business had revenue of $1.35 billion during the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. Equities research analysts predict that TIM will post 1.83 earnings per share for the current year.

TIM Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, July 29th. Stockholders of record on Monday, June 29th were given a dividend of $0.1618 per share. The ex-dividend date of this dividend was Monday, June 29th. TIM's dividend payout ratio is currently 61.54%.

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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