Victory Capital Management Inc. Trims Stake in Tim S.A. (NYSE:TIMB)

Victory Capital Management Inc. trimmed its stake in Tim S.A. (NYSE:TIMB) by 40.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,124 shares of the company’s stock after selling 18,788 shares during the period. Victory Capital Management Inc.’s holdings in TIM were worth $484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TIMB. EverSource Wealth Advisors LLC increased its stake in TIM by 108.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after buying an additional 835 shares in the last quarter. CWM LLC boosted its holdings in shares of TIM by 105.7% during the 2nd quarter. CWM LLC now owns 2,471 shares of the company’s stock valued at $35,000 after purchasing an additional 1,270 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of TIM by 298.2% during the 2nd quarter. Blue Trust Inc. now owns 6,973 shares of the company’s stock valued at $100,000 after purchasing an additional 5,222 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of TIM during the 3rd quarter valued at about $173,000. Finally, Creative Planning bought a new position in shares of TIM during the 3rd quarter valued at about $216,000.

Analysts Set New Price Targets

TIMB has been the subject of a number of analyst reports. Barclays lowered their price target on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Scotiabank lowered their price target on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a report on Tuesday, November 5th.

TIM Stock Down 5.7 %

TIM stock opened at $12.90 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 $12.60 and a 1-year high of $19.14. The company’s 50-day moving average is $15.07 and its 200 day moving average is $15.41.

TIM (NYSE:TIMB) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The firm had revenue of $1.16 billion during the quarter. TIM had a return on equity of 11.73% and a net margin of 12.71%. Equities research analysts anticipate that Tim S.A. will post 1.2 earnings per share for the current fiscal year.

TIM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Monday, September 30th were issued a dividend of $0.088 per share. This represents a $0.35 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Monday, September 30th. TIM’s payout ratio is 26.98%.

TIM Profile

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.