Summit Global Investments Decreases Position in Tim S.A. (NYSE:TIMB)

Summit Global Investments decreased its holdings in Tim S.A. (NYSE:TIMB) by 20.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,861 shares of the company’s stock after selling 65,601 shares during the period. Summit Global Investments’ holdings in TIM were worth $4,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Quantbot Technologies LP increased its stake in shares of TIM by 22.8% during the first quarter. Quantbot Technologies LP now owns 23,585 shares of the company’s stock worth $419,000 after buying an additional 4,378 shares during the period. Capital Wealth Planning LLC increased its holdings in shares of TIM by 34.6% in the 1st quarter. Capital Wealth Planning LLC now owns 130,472 shares of the company’s stock valued at $2,316,000 after acquiring an additional 33,537 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of TIM during the 1st quarter worth about $59,000. QRG Capital Management Inc. purchased a new stake in TIM during the first quarter worth approximately $196,000. Finally, US Bancorp DE boosted its holdings in TIM by 814.4% in the first quarter. US Bancorp DE now owns 22,943 shares of the company’s stock valued at $407,000 after purchasing an additional 20,434 shares in the last quarter.

TIM Trading Down 1.1 %

TIMB opened at $14.11 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. Tim S.A. has a 52 week low of $13.74 and a 52 week high of $19.14. The business’s 50 day moving average is $15.91 and its two-hundred day moving average is $15.76.

TIM (NYSE:TIMB) last announced its earnings results on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The business had revenue of $1.16 billion during the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. Analysts predict that Tim S.A. will post 1.27 earnings per share for the current fiscal year.

TIM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th were issued a $0.088 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.49%. TIM’s payout ratio is 26.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Scotiabank decreased their price objective on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a research note on Tuesday.

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.