TIM S.A. Sponsored ADR $TIMB Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in shares of TIM S.A. Sponsored ADR (NYSE:TIMB) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,786,425 shares of the company’s stock after selling 61,961 shares during the period. Renaissance Technologies LLC’s holdings in TIM were worth $47,322,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TIMB. Sanctuary Advisors LLC acquired a new position in shares of TIM in the fourth quarter worth $836,000. Archford Capital Strategies LLC acquired a new stake in shares of TIM in the fourth quarter valued at $676,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of TIM by 102.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,702 shares of the company’s stock valued at $753,000 after acquiring an additional 19,552 shares in the last quarter. UBS Group AG boosted its holdings in TIM by 12.4% in the fourth quarter. UBS Group AG now owns 537,416 shares of the company’s stock valued at $10,453,000 after purchasing an additional 59,136 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in TIM by 55.5% in the first quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock valued at $3,578,000 after purchasing an additional 48,232 shares during the period.

TIM Stock Performance

Shares of TIMB opened at $20.87 on Tuesday. The stock has a 50 day moving average price of $21.83 and a 200 day moving average price of $23.87. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.10 and a beta of 0.38. TIM S.A. Sponsored ADR has a 52-week low of $17.65 and a 52-week high of $28.22.

TIM (NYSE:TIMB) last released its quarterly earnings data on Wednesday, June 17th. The company reported $0.08 earnings per share for the quarter. TIM had a net margin of 16.00% and a return on equity of 17.77%. Research analysts predict that TIM S.A. Sponsored ADR will post 1.8 EPS for the current fiscal year.

TIM Announces Dividend

The business also recently announced a special dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, June 29th will be given a $0.1618 dividend. The ex-dividend date of this dividend is Monday, June 29th. TIM’s dividend payout ratio (DPR) is 68.90%.

Insiders Place Their Bets

In other TIM news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer owned 83,259 shares in the company, valued at $359,678.88. This represents a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Auana Mattar Lima sold 8,200 shares of the company’s stock in a transaction 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 transaction, the insider owned 36,686 shares of the company’s stock, valued at $162,152.12. This represents a 18.27% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

Several research analysts recently commented on the company. Bradesco Corretora cut TIM to a “neutral” rating in a research note on Tuesday, April 28th. The Goldman Sachs Group started coverage on TIM in a research note on Monday, May 18th. They issued a “neutral” rating and a $23.40 price objective for the company. Zacks Research downgraded TIM from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Santander upgraded shares of TIM from a “neutral” rating to an “outperform” rating in a research note on Monday, June 22nd. Finally, Barclays reduced their target price on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.23.

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