Daiwa Securities Group Inc. Purchases 9,000 Shares of Tim S.A. (NYSE:TIMB)

Daiwa Securities Group Inc. grew its position in shares of Tim S.A. (NYSE:TIMB) by 69.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,000 shares of the company’s stock after buying an additional 9,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in TIM were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TIMB. Crossmark Global Holdings Inc. acquired a new position in TIM during the 2nd quarter worth about $8,818,000. Summit Global Investments lifted its position in shares of TIM by 147.6% during the second quarter. Summit Global Investments now owns 325,462 shares of the company’s stock worth $4,661,000 after purchasing an additional 193,996 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of TIM during the first quarter valued at approximately $2,000,000. Brandes Investment Partners LP raised its position in TIM by 98.3% in the 4th quarter. Brandes Investment Partners LP now owns 182,703 shares of the company’s stock worth $3,375,000 after purchasing an additional 90,562 shares during the last quarter. Finally, UBS Group AG lifted its holdings in TIM by 19.3% during the 4th quarter. UBS Group AG now owns 453,388 shares of the company’s stock worth $8,374,000 after buying an additional 73,388 shares in the last quarter.

TIM Price Performance

TIM stock opened at $16.94 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.88. Tim S.A. has a 1 year low of $13.84 and a 1 year high of $19.14. The company’s 50-day moving average is $15.81 and its two-hundred day moving average is $16.30.

TIM (NYSE:TIMB) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.31 earnings per share for the quarter. TIM had a net margin of 12.53% and a return on equity of 11.47%. The business had revenue of $1.21 billion for the quarter. As a group, research analysts expect that Tim S.A. will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barclays lowered their target price on TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd.

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.