TIM Participacoes SA (NYSE:TSU) fell 2.3% during mid-day trading on Friday . The stock traded as low as $11.65 and last traded at $11.67, with a volume of 492,347 shares traded. The stock had previously closed at $11.94.

A number of research firms recently weighed in on TSU. Barclays PLC raised their target price on shares of TIM Participacoes SA from $8.60 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, April 1st. Zacks Investment Research downgraded shares of TIM Participacoes SA from a “hold” rating to a “sell” rating in a research report on Wednesday, May 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.17.

The firm has a market capitalization of $5.70 billion and a price-to-earnings ratio of 10.20. The firm’s 50-day moving average price is $10.16 and its 200-day moving average price is $9.60.

Several hedge funds and institutional investors recently added to or reduced their stakes in TSU. Dimensional Fund Advisors LP increased its position in TIM Participacoes SA by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 548,248 shares of the company’s stock worth $4,654,000 after buying an additional 4,663 shares during the last quarter. New York State Common Retirement Fund increased its position in TIM Participacoes SA by 11.7% in the fourth quarter. New York State Common Retirement Fund now owns 1,158,625 shares of the company’s stock valued at $9,825,000 after buying an additional 121,149 shares during the last quarter. Russell Frank Co increased its position in TIM Participacoes SA by 18.8% in the fourth quarter. Russell Frank Co now owns 1,308,032 shares of the company’s stock valued at $11,236,000 after buying an additional 207,200 shares during the last quarter. Asturias Capital LLC acquired a new position in TIM Participacoes SA during the fourth quarter valued at $24,246,000. Finally, Brandes Investment Partners LP increased its position in TIM Participacoes SA by 8.2% in the fourth quarter. Brandes Investment Partners LP now owns 15,722,644 shares of the company’s stock valued at $133,328,000 after buying an additional 1,188,025 shares during the last quarter.

TIM Participacoes SA is a holding company. The Company provides 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. The Company’s wholly owned subsidiaries include TIM Celular SA, which provides landline telephone services (STFC) – domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (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 (DF).

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