Tim S.A. (NYSE:TIMB) Sees Significant Drop in Short Interest

Tim SA (NYSE:TIMB – Get Rating) saw a significant drop in short interest in August. As of August 31, there was short interest totaling 627,500 shares, down 29.4% from the August 15 total of 889,400 shares. Based on an average trading volume of 487,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.1% of the company’s shares are shorted.

TIM stock down 1.3%

Shares of TIMB stock fell $0.15 on Friday midday to hit $11.53. 555,223 shares of the Company were exchanged compared to an average volume of 553,234. TIM has a 52-week low of $9.81 and a 52-week high of $15.61. The company has a debt to equity ratio of 0.61, a quick ratio of 0.88 and a current ratio of 0.90. The company has a market cap of $5.58 billion, a P/E of 10.88, a P/E of 1.28, and a beta of 0.77. The company’s 50-day simple moving average is $11.90 and its 200-day simple moving average is $12.94.

TIM (NYSE:TIMB – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported earnings per share of $0.13 for the quarter, falling short of analyst consensus estimates of $0.22 ($0.09). TIM had a return on equity of 7.69% and a net margin of 13.92%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.07 billion. Research analysts are forecasting that TIM will report earnings per share of 0.55 for the current year.

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TIM cuts dividend

The company also recently announced a dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 23 will receive a dividend of $0.075. The ex-dividend date is Thursday September 22nd. TIM’s payout ratio is currently 31.13%.

Hedge funds rely on TIM

A number of hedge funds recently added to or reduced their stakes in the company. Amundi acquired a new position in TIM valued at $987,000 during the second quarter. Goldman Sachs Group Inc. increased its stake in TIM by 40.9% in the second quarter. Goldman Sachs Group Inc. now owns 18,692 shares of the company’s stock valued at $227,000 after purchasing an additional 5,424 shares during the period. Nomura Holdings Inc. acquired a new position in TIM valued at $478,000 during the second quarter. Atlas Capital Advisors LLC increased its stake in TIM by 235.2% during the second quarter. Atlas Capital Advisors LLC now owns 13,115 shares of the company’s stock valued at $159,000 after purchasing an additional 9,202 shares last quarter. Finally, AQR Capital Management LLC increased its stake in TIM by 47.3% during the second quarter. AQR Capital Management LLC now owns 255,891 shares of the company’s stock valued at $3,109,000 after purchasing an additional 82,119 shares last quarter. Institutional investors and hedge funds own 4.26% of the company’s shares.

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Analysts set new price targets

Several analysts have issued reports on the stock. Barclays increased its price target on TIM shares to $17.50 in a research report on Monday, August 15. TheStreet downgraded shares of TIM from a “b” rating to a “c+” rating in a research report on Tuesday, June 21.

About TIM

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TIM SA, a telecommunications company, provides mobile voice and data services, broadband internet access, value-added services and other telecommunications services and products in Brazil. The company offers services for individuals as well as enterprise solutions for small, medium and large businesses.

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