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:TIMBFree Report) 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:TIMBGet Free Report) 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.

View Our Latest Report on TIMB

About TIM

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TIMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tim S.A. (NYSE:TIMBFree Report).

Institutional Ownership by Quarter for TIM (NYSE:TIMB)

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