Renaissance Technologies LLC Reduces Stake in TIM S.A. Sponsored ADR $TIMB

Renaissance Technologies LLC cut its stake in TIM S.A. Sponsored ADR (NYSE:TIMB) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,786,425 shares of the company’s stock after selling 61,961 shares during the quarter. Renaissance Technologies LLC owned about 0.37% of TIM worth $47,322,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN increased its position in TIM by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock worth $27,000 after purchasing an additional 494 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in TIM during the fourth quarter worth about $39,000. EverSource Wealth Advisors LLC boosted its holdings in TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $41,000 after purchasing an additional 1,345 shares during the last quarter. Raymond James Financial Inc. acquired a new position in TIM in the 2nd quarter valued at about $42,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of TIM in the 4th quarter valued at approximately $56,000.

TIM Stock Performance

Shares of TIMB stock opened at $20.87 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 0.92. The firm has a market cap of $10.11 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.10 and a beta of 0.38. The firm’s 50 day moving average price is $21.83 and its 200-day moving average price is $23.87. TIM S.A. Sponsored ADR has a one year low of $17.65 and a one year high of $28.22.

TIM (NYSE:TIMB) last posted its earnings results 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%. As a group, equities research analysts predict that TIM S.A. Sponsored ADR will post 1.8 EPS for the current year.

TIM Dividend Announcement

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 given a dividend of $0.1618 per share. The ex-dividend date is Monday, June 29th. TIM’s dividend payout ratio (DPR) is currently 68.90%.

Analyst Upgrades and Downgrades

TIMB has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of TIM from a “strong-buy” rating to a “buy” rating in a report on Monday, May 25th. Weiss Ratings cut TIM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. Zacks Research lowered TIM from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Bradesco Corretora cut TIM to a “neutral” rating in a research note on Tuesday, April 28th. Finally, Santander upgraded TIM from a “neutral” rating to an “outperform” rating in a research report on Monday, June 22nd. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat, TIM presently has a consensus rating of “Hold” and an average target price of $25.23.

Insiders Place Their Bets

In related news, insider Auana Mattar Lima sold 8,200 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $4.42, for a total transaction of $36,244.00. Following the transaction, the insider owned 36,686 shares of the company’s stock, valued at approximately $162,152.12. This represents a 18.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marques Andrea Palma Viegas sold 35,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total value of $151,200.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing.

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