Connor Clark & Lunn Investment Management Ltd. Lowers Stock Holdings in Tim S.A. (NYSE:TIMB)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Tim S.A. (NYSE:TIMB) by 23.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 542,822 shares of the company’s stock after selling 164,888 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in TIM were worth $6,384,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TIMB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of TIM during the 3rd quarter worth about $25,000. Global Retirement Partners LLC increased its position in TIM by 1,005.0% during the fourth quarter. Global Retirement Partners LLC now owns 2,431 shares of the company’s stock worth $29,000 after purchasing an additional 2,211 shares during the last quarter. R Squared Ltd purchased a new position in TIM during the fourth quarter worth approximately $53,000. Aprio Wealth Management LLC acquired a new position in shares of TIM in the 4th quarter valued at $194,000. Finally, Jane Street Group LLC purchased a new stake in shares of TIM during the 3rd quarter valued at $215,000.

TIM Price Performance

Shares of NYSE TIMB opened at $15.03 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. Tim S.A. has a 1-year low of $11.32 and a 1-year high of $18.97. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.67 and a beta of 0.84. The business has a 50-day moving average of $13.60 and a 200-day moving average of $14.26.

TIM (NYSE:TIMB) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). TIM had a return on equity of 11.91% and a net margin of 12.24%. On average, equities analysts anticipate that Tim S.A. will post 1.34 EPS for the current fiscal year.

TIM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Friday, February 21st will be issued a dividend of $0.0717 per share. This represents a $0.29 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, February 21st. TIM’s payout ratio is 51.69%.

Analysts Set New Price Targets

Several research analysts recently weighed in on TIMB shares. Scotiabank cut their target price on TIM from $23.20 to $17.60 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price objective on TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Barclays raised their price target on shares of TIM from $15.50 to $16.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. Finally, UBS Group downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th.

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.