Exane Asset Management lowered its stake in TIM Participacoes S.A. (NYSE:TSU) by 27.7% during the second quarter, Holdings Channel reports. The fund owned 1,286,336 shares of the Wireless communications provider’s stock after selling 493,581 shares during the period. TIM Participacoes makes up about 5.9% of Exane Asset Management’s holdings, making the stock its 7th largest position. Exane Asset Management owned approximately 0.27% of TIM Participacoes worth $19,038,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in TSU. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of TIM Participacoes during the first quarter valued at approximately $200,000. Diversified Trust Co purchased a new stake in shares of TIM Participacoes during the second quarter valued at approximately $256,000. AXA purchased a new stake in shares of TIM Participacoes during the first quarter valued at approximately $329,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of TIM Participacoes during the fourth quarter valued at approximately $336,000. Finally, Comerica Bank boosted its stake in shares of TIM Participacoes by 12.1% in the fourth quarter. Comerica Bank now owns 28,412 shares of the Wireless communications provider’s stock valued at $370,000 after buying an additional 3,060 shares during the last quarter. 19.28% of the stock is currently owned by hedge funds and other institutional investors.
TIM Participacoes S.A. (TSU) traded down 0.87% on Wednesday, reaching $15.87. 93,573 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $14.86 and its 200 day moving average price is $15.23. TIM Participacoes S.A. has a 52-week low of $11.17 and a 52-week high of $16.81. The firm has a market capitalization of $7.68 billion, a PE ratio of 32.72 and a beta of 1.49.
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Several equities research analysts recently commented on TSU shares. BidaskClub raised TIM Participacoes from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research cut TIM Participacoes from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Royal Bank Of Canada reissued a “hold” rating and set a $16.00 target price on shares of TIM Participacoes in a report on Wednesday, May 3rd. J P Morgan Chase & Co raised TIM Participacoes from a “neutral” rating to an “overweight” rating in a report on Thursday, May 25th. Finally, Barclays PLC boosted their target price on TIM Participacoes from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.35.
TIM Participacoes Company Profile
TIM Participacoes SA (TIM) is a provider of mobile telecommunication services in Brazil. The Company, through its subsidiaries in various telecommunications markets, operates mobile, fixed and long distance telephony, data transmission and ultra-broadband services. Its direct subsidiaries include TIM Celular SA, which provides landline telephone services (commuted fixed telephonic service (STFC))-domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (multimedia service of communication (SCM)) in all Brazilian states and in the Federal District, and Intelig Telecomunicacoes Ltda., which provides STFC-local voices services and SCM services in all Brazilian states and in the Federal District.
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