Centiva Capital LP Trims Stake in Tim S.A. (NYSE:TIMB)

Centiva Capital LP decreased its position in shares of Tim S.A. (NYSE:TIMB) by 25.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,999 shares of the company’s stock after selling 4,156 shares during the quarter. Centiva Capital LP’s holdings in TIM were worth $207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC boosted its stake in TIM by 105.7% in the second quarter. CWM LLC now owns 2,471 shares of the company’s stock valued at $35,000 after acquiring an additional 1,270 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of TIM by 25.2% in the second quarter. QRG Capital Management Inc. now owns 13,796 shares of the company’s stock valued at $198,000 after purchasing an additional 2,780 shares during the period. Blue Trust Inc. boosted its holdings in TIM by 298.2% in the second 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 period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in TIM by 10.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 119,298 shares of the company’s stock valued at $1,708,000 after acquiring an additional 11,150 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in TIM by 15.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 36,413 shares of the company’s stock worth $521,000 after purchasing an additional 4,899 shares during the last quarter.

TIM Price Performance

Shares of TIMB opened at $12.73 on Friday. The stock has a fifty day moving average price of $14.34 and a 200 day moving average price of $15.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. The company has a market cap of $6.16 billion, a P/E ratio of 10.10, a PEG ratio of 0.59 and a beta of 0.84. Tim S.A. has a 12 month low of $12.60 and a 12 month high of $19.14.

TIM (NYSE:TIMB) last issued its quarterly earnings results 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). TIM had a return on equity of 11.73% and a net margin of 12.71%. The company had revenue of $1.16 billion during the quarter. On average, research analysts forecast that Tim S.A. will post 1.2 earnings per share for the current year.

TIM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th were paid a $0.088 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.35 dividend on an annualized basis and a yield of 2.77%. TIM’s dividend payout ratio (DPR) is currently 26.19%.

Analysts Set New Price Targets

TIMB has been the subject of several analyst reports. UBS Group downgraded TIM from a “buy” rating to a “neutral” rating in a research note on Monday. Barclays reduced their price objective on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Finally, Scotiabank decreased their target price on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 5th.

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.