Assetmark Inc. Buys 78,379 Shares of TIM S.A. Sponsored ADR $TIMB

Assetmark Inc. boosted its stake in TIM S.A. Sponsored ADR (NYSE:TIMB) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 490,478 shares of the company’s stock after purchasing an additional 78,379 shares during the quarter. Assetmark Inc.’s holdings in TIM were worth $12,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TIMB. Royal Bank of Canada boosted its position in shares of TIM by 1.3% during the 1st quarter. Royal Bank of Canada now owns 62,008 shares of the company’s stock worth $970,000 after acquiring an additional 789 shares in the last quarter. Amundi acquired a new stake in shares of TIM in the 1st quarter valued at $87,000. Goldman Sachs Group Inc. boosted its holdings in shares of TIM by 4.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock valued at $16,539,000 after purchasing an additional 47,130 shares in the last quarter. Creative Planning boosted its holdings in shares of TIM by 9.2% in the 2nd quarter. Creative Planning now owns 21,511 shares of the company’s stock valued at $433,000 after purchasing an additional 1,814 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of TIM by 117.7% in the 2nd quarter. Rhumbline Advisers now owns 10,018 shares of the company’s stock valued at $201,000 after purchasing an additional 5,417 shares during the last quarter.

Insider Transactions at TIM

In other news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total transaction of $151,200.00. Following the sale, the chief financial officer directly owned 83,259 shares in the company, valued at approximately $359,678.88. The trade was a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $36,244.00. Following the completion of the transaction, the insider directly owned 36,686 shares of the company’s stock, valued at $162,152.12. This represents a 18.27% decrease in their position. The SEC filing for this sale provides additional information.

TIM Stock Up 0.0%

Shares of TIMB opened at $22.14 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 0.92. TIM S.A. Sponsored ADR has a 52 week low of $17.65 and a 52 week high of $28.22. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.15 and a beta of 0.38. The stock has a fifty day moving average of $21.95 and a 200-day moving average of $23.79.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). TIM had a return on equity of 17.77% and a net margin of 16.00%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, sell-side analysts anticipate that TIM S.A. Sponsored ADR will post 1.8 earnings per share for the current fiscal year.

TIM Announces Dividend

The company also recently declared a special dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, June 29th will be paid a dividend of $0.1618 per share. The ex-dividend date of this dividend is Monday, June 29th. TIM’s dividend payout ratio (DPR) is presently 68.90%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings cut TIM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. Barclays reduced their price objective on TIM from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. New Street Research upgraded TIM from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. Wall Street Zen downgraded TIM from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 25th. Finally, Scotiabank increased their target price on shares of TIM from $27.00 to $28.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.23.

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