Short Interest in TIM S.A. Sponsored ADR (NYSE:TIMB) Declines By 23.2%

TIM S.A. Sponsored ADR (NYSE:TIMB) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 1,827,709 shares, a drop of 23.2% from the November 30th total of 2,379,678 shares. Based on an average daily trading volume, of 385,914 shares, the short-interest ratio is presently 4.7 days. Approximately 0.4% of the company’s stock are sold short. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 385,914 shares, the short-interest ratio is presently 4.7 days.

Hedge Funds Weigh In On TIM

Several hedge funds have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management increased its stake in TIM by 0.3% in the third quarter. Ritholtz Wealth Management now owns 150,793 shares of the company’s stock valued at $3,366,000 after purchasing an additional 441 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of TIM by 7.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,658 shares of the company’s stock valued at $174,000 after buying an additional 623 shares in the last quarter. Kathmere Capital Management LLC raised its stake in TIM by 4.4% during the 3rd quarter. Kathmere Capital Management LLC now owns 14,761 shares of the company’s stock worth $329,000 after buying an additional 627 shares during the period. Farther Finance Advisors LLC lifted its holdings in TIM by 19.3% during the second quarter. Farther Finance Advisors LLC now owns 3,956 shares of the company’s stock worth $80,000 after acquiring an additional 641 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of TIM by 1.3% in the first 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.

TIM Price Performance

Shares of TIMB stock opened at $19.47 on Thursday. The stock has a 50 day moving average of $22.09 and a two-hundred day moving average of $20.96. The company has a market capitalization of $9.43 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.67 and a beta of 0.51. TIM has a 12 month low of $11.32 and a 12 month high of $23.88. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.10. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. TIM had a net margin of 15.35% and a return on equity of 15.72%. As a group, equities analysts expect that TIM will post 1.34 EPS for the current year.

TIM Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Monday, December 29th will be issued a dividend of $0.6784 per share. The ex-dividend date of this dividend is Monday, December 29th. TIM’s payout ratio is currently 96.58%.

Wall Street Analysts Forecast Growth

TIMB has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TIM in a report on Monday. Hsbc Global Res upgraded shares of TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Barclays boosted their price target on TIM from $21.00 to $23.50 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Citigroup assumed coverage on TIM in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. Finally, HSBC raised shares of 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. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.25.

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