Insider Selling: TIM (NYSE:TIMB) CFO Sells 35,000 Shares of Stock

TIM S.A. Sponsored ADR (NYSE:TIMB) CFO Marques Andrea Palma Viegas sold 35,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total transaction of $151,200.00. Following the sale, the chief financial officer directly owned 83,259 shares in the company, valued at $359,678.88. The trade was a 29.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

TIM Stock Performance

Shares of NYSE:TIMB traded down $0.21 during trading on Wednesday, hitting $21.44. 225,124 shares of the company were exchanged, compared to its average volume of 405,535. The company has a market cap of $10.38 billion, a PE ratio of 13.07, a P/E/G ratio of 1.11 and a beta of 0.37. The stock has a 50 day moving average of $23.45 and a 200 day moving average of $23.67. TIM S.A. Sponsored ADR has a 52-week low of $17.65 and a 52-week high of $28.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.89.

TIM (NYSE:TIMB) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). TIM had a net margin of 16.00% and a return on equity of 17.77%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.32 billion. As a group, equities research analysts predict that TIM S.A. Sponsored ADR will post 1.8 EPS for the current year.

TIM Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th will be paid a $0.1618 dividend. The ex-dividend date is Monday, June 29th. TIM’s dividend payout ratio (DPR) is currently 61.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Inspire Investing LLC increased its holdings in shares of TIM by 10.1% in the 1st quarter. Inspire Investing LLC now owns 4,191 shares of the company’s stock worth $111,000 after buying an additional 386 shares during the last quarter. Wells Fargo & Company MN increased its stake in TIM by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after acquiring an additional 494 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in TIM by 23.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,619 shares of the company’s stock valued at $51,000 after purchasing an additional 504 shares in the last quarter. NewEdge Advisors LLC raised its position in TIM by 5.2% during the fourth quarter. NewEdge Advisors LLC now owns 14,551 shares of the company’s stock valued at $283,000 after purchasing an additional 714 shares in the last quarter. Finally, DGS Capital Management LLC lifted its stake in TIM by 1.9% during the first quarter. DGS Capital Management LLC now owns 40,919 shares of the company’s stock worth $1,084,000 after purchasing an additional 753 shares during the last quarter.

Analyst Upgrades and Downgrades

TIMB has been the topic of several analyst reports. Barclays upped their price target on TIM from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Scotiabank boosted their price objective on shares of TIM from $27.00 to $28.50 and gave the company a “sector perform” rating in a research note on Wednesday, May 27th. Santander raised shares of TIM from a “neutral” rating to an “outperform” rating in a report on Monday. Zacks Research cut shares of TIM from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Bradesco Corretora downgraded shares of TIM to a “neutral” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TIM has an average rating of “Hold” and an average price target of $25.90.

TIM Company 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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA