Pictet Asset Management Ltd. raised its position in TIM Participacoes SA (NYSE:TSU) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,765,517 shares of the Wireless communications provider’s stock after buying an additional 12,417 shares during the period. Pictet Asset Management Ltd.’s holdings in TIM Participacoes were worth $8,392,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in TIM Participacoes by 4.1% in the second quarter. Renaissance Technologies LLC now owns 4,590,338 shares of the Wireless communications provider’s stock valued at $68,717,000 after purchasing an additional 182,800 shares during the last quarter. Quantamental Technologies LLC raised its position in TIM Participacoes by 122.8% in the second quarter. Quantamental Technologies LLC now owns 4,899 shares of the Wireless communications provider’s stock valued at $73,000 after purchasing an additional 2,700 shares during the last quarter. Numen Capital LLP bought a new position in TIM Participacoes in the second quarter valued at about $14,258,000. Capital Growth Management LP bought a new position in TIM Participacoes in the second quarter valued at about $6,587,000. Finally, Atria Investments LLC bought a new position in TIM Participacoes in the second quarter valued at about $452,000. Hedge funds and other institutional investors own 13.96% of the company’s stock.

Shares of TSU traded down $0.42 during mid-day trading on Friday, reaching $14.58. 565,584 shares of the company were exchanged, compared to its average volume of 888,019. TIM Participacoes SA has a 52 week low of $12.79 and a 52 week high of $17.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.06. The stock has a market capitalization of $7.26 billion, a PE ratio of 10.64, a PEG ratio of 2.67 and a beta of 0.90. The business has a 50 day simple moving average of $15.03 and a two-hundred day simple moving average of $15.03.

TIM Participacoes (NYSE:TSU) last issued its quarterly earnings data on Wednesday, July 31st. The Wireless communications provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.07. TIM Participacoes had a return on equity of 12.16% and a net margin of 23.66%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, analysts predict that TIM Participacoes SA will post 0.95 EPS for the current year.

Several equities analysts have commented on TSU shares. New Street Research upgraded TIM Participacoes from a “neutral” rating to a “buy” rating in a research report on Thursday, June 20th. Morgan Stanley downgraded TIM Participacoes from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $19.00 to $16.00 in a research report on Wednesday, June 5th. TheStreet upgraded TIM Participacoes from a “c+” rating to a “b-” rating in a research report on Monday, July 22nd. BMO Capital Markets dropped their target price on TIM Participacoes from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. Finally, ValuEngine downgraded TIM Participacoes from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. TIM Participacoes has an average rating of “Hold” and a consensus price target of $21.75.

TIM Participacoes Company Profile

TIM ParticipaƧƵes SA provides telecommunication services in Brazil. It offers mobile voice and data, broadband Internet access, value-added, and other telecommunications services and products. The company offers prepaid and postpaid services; corporate solutions for mobile or fixed services, as well as mobile-to-mobile services; value-added services; financial and other services; digital channels; and customer services.

Further Reading: Call Option Volume

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Institutional Ownership by Quarter for TIM Participacoes (NYSE:TSU)

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