TIM Participacoes S.A. (TSU) Stake Raised by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. increased its stake in TIM Participacoes S.A. (NYSE:TSU) by 333.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,600 shares of the Wireless communications provider’s stock after buying an additional 82,800 shares during the period. Daiwa Securities Group Inc.’s holdings in TIM Participacoes were worth $1,593,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of TIM Participacoes by 9.4% in the fourth quarter. State Street Corp now owns 375,146 shares of the Wireless communications provider’s stock worth $4,426,000 after buying an additional 32,085 shares in the last quarter. FMR LLC purchased a new position in shares of TIM Participacoes during the fourth quarter worth about $925,000. Norges Bank purchased a new position in shares of TIM Participacoes during the fourth quarter worth about $787,000. Fox Run Management L.L.C. purchased a new position in shares of TIM Participacoes during the first quarter worth about $695,000. Finally, Acadian Asset Management LLC boosted its position in shares of TIM Participacoes by 10,668.2% in the first quarter. Acadian Asset Management LLC now owns 2,008,162 shares of the Wireless communications provider’s stock worth $32,090,000 after buying an additional 1,989,513 shares in the last quarter. 19.49% of the stock is owned by institutional investors.
TIM Participacoes S.A. (TSU) opened at 17.59 on Thursday. TIM Participacoes S.A. has a one year low of $11.17 and a one year high of $17.71. The company has a 50 day moving average price of $15.93 and a 200-day moving average price of $15.63. The company has a market capitalization of $8.51 billion, a PE ratio of 29.56 and a beta of 1.52.
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TSU has been the topic of a number of recent research reports. Zacks Investment Research cut TIM Participacoes from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 12th. Deutsche Bank AG upgraded TIM Participacoes from a “hold” rating to a “buy” rating and increased their target price for the stock from $17.00 to $20.00 in a report on Wednesday, July 26th. Barclays PLC increased their target price on TIM Participacoes from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, May 2nd. J P Morgan Chase & Co upgraded TIM Participacoes from a “neutral” rating to an “overweight” rating in a report on Thursday, May 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $16.00 target price on shares of TIM Participacoes in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. TIM Participacoes presently has a consensus rating of “Buy” and an average target price of $18.18.
About TIM Participacoes
TIM Participacoes SA (TIM) is a provider of mobile telecommunication services in Brazil. The Company, through its subsidiaries in various telecommunications markets, operates mobile, fixed and long distance telephony, data transmission and ultra-broadband services. Its direct subsidiaries include TIM Celular SA, which provides landline telephone services (commuted fixed telephonic service (STFC))-domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (multimedia service of communication (SCM)) in all Brazilian states and in the Federal District, and Intelig Telecomunicacoes Ltda., which provides STFC-local voices services and SCM services in all Brazilian states and in the Federal District.
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