Arrowstreet Capital Limited Partnership Sells 120,256 Shares of TIM S.A. Sponsored ADR $TIMB

Arrowstreet Capital Limited Partnership lowered its position in TIM S.A. Sponsored ADR (NYSE:TIMB) by 5.7% in the 2nd quarter, Holdings Channel reports. The firm owned 1,989,366 shares of the company’s stock after selling 120,256 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in TIM were worth $40,006,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its position in TIM by 10.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company’s stock valued at $70,029,000 after acquiring an additional 339,384 shares during the last quarter. Banco BTG Pactual S.A. grew its holdings in shares of TIM by 1,302.9% in the first quarter. Banco BTG Pactual S.A. now owns 260,933 shares of the company’s stock worth $4,084,000 after purchasing an additional 242,333 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of TIM by 26.4% in the second quarter. American Century Companies Inc. now owns 445,578 shares of the company’s stock worth $8,961,000 after purchasing an additional 93,179 shares during the last quarter. Ritholtz Wealth Management increased its stake in TIM by 55.0% in the 2nd quarter. Ritholtz Wealth Management now owns 150,352 shares of the company’s stock worth $3,024,000 after buying an additional 53,326 shares during the period. Finally, Assetmark Inc. lifted its holdings in TIM by 15.3% during the 2nd quarter. Assetmark Inc. now owns 380,158 shares of the company’s stock valued at $7,645,000 after buying an additional 50,379 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Hsbc Global Res upgraded shares of TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. HSBC upgraded TIM from a “hold” rating to a “buy” rating and boosted their price target for the company from $21.00 to $27.00 in a report on Wednesday, November 5th. Jefferies Financial Group downgraded TIM from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. Zacks Research upgraded TIM from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Scotiabank reissued a “sector perform” rating and set a $23.60 price target on shares of TIM in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.10.

TIM Stock Performance

Shares of NYSE:TIMB opened at $21.25 on Friday. The firm has a 50 day moving average of $22.45 and a 200 day moving average of $20.56. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 0.79 and a beta of 0.51. TIM S.A. Sponsored ADR has a 52 week low of $11.32 and a 52 week high of $23.88.

TIM (NYSE:TIMB) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. TIM had a return on equity of 15.72% and a net margin of 15.35%. On average, sell-side analysts predict that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current fiscal year.

TIM Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Friday, October 3rd will be paid a $0.1888 dividend. The ex-dividend date is Friday, October 3rd. TIM’s payout ratio is 65.07%.

TIM Profile

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.