Sanctuary Advisors LLC Reduces Stock Holdings in TIM S.A. Sponsored ADR $TIMB

Sanctuary Advisors LLC reduced its holdings in shares of TIM S.A. Sponsored ADR (NYSE:TIMB) by 65.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,985 shares of the company’s stock after selling 28,014 shares during the period. Sanctuary Advisors LLC’s holdings in TIM were worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its stake in TIM by 55.5% in the 1st quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock worth $3,578,000 after acquiring an additional 48,232 shares during the last quarter. Summit Securities Group LLC purchased a new stake in TIM during the 1st quarter valued at about $127,000. Kathmere Capital Management LLC increased its holdings in shares of TIM by 5.0% in the first quarter. Kathmere Capital Management LLC now owns 16,554 shares of the company’s stock valued at $439,000 after purchasing an additional 787 shares during the period. DGS Capital Management LLC increased its holdings in shares of TIM by 1.9% in the first quarter. DGS Capital Management LLC now owns 40,919 shares of the company’s stock valued at $1,084,000 after purchasing an additional 753 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of TIM by 30.2% in the first quarter. QRG Capital Management Inc. now owns 18,812 shares of the company’s stock worth $498,000 after purchasing an additional 4,358 shares during the last quarter.

TIM Stock Performance

Shares of NYSE TIMB opened at $19.05 on Thursday. The company has a market capitalization of $9.22 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.02 and a beta of 0.38. 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 company’s fifty day moving average price is $21.71 and its 200 day moving average price is $23.86. TIM S.A. Sponsored ADR has a 1 year low of $17.65 and a 1 year high of $28.22.

TIM (NYSE:TIMB) last posted its earnings results on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. TIM had a return on equity of 18.42% and a net margin of 15.73%. On average, research analysts predict that TIM S.A. Sponsored ADR will post 1.8 earnings per share for the current year.

TIM Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, July 29th. Investors of record on Monday, June 29th were issued a $0.1618 dividend. The ex-dividend date of this dividend was Monday, June 29th. TIM’s payout ratio is presently 68.90%.

Insiders Place Their Bets

In other news, CFO Marques Andrea Palma Viegas sold 35,000 shares of TIM stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total value of $151,200.00. Following the sale, the chief financial officer owned 83,259 shares in the company, valued at $359,678.88. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Auana Mattar Lima sold 8,200 shares of the business’s 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

Several brokerages have commented on TIMB. Scotiabank lifted their price objective on shares of TIM from $27.00 to $28.50 and gave the company a “sector perform” rating in a research note on Wednesday, May 27th. Weiss Ratings lowered shares of TIM from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Barclays reduced their target price on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Zacks Research downgraded shares of TIM from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Finally, The Goldman Sachs Group began coverage on shares of TIM in a report on Monday, May 18th. They issued a “neutral” rating and a $23.40 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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