8.8% Stake of TIM (TI) Owned by Elliott Associates, L.P.

Elliott Associates, L.P. stated that they own 8.8% of TIM (NYSE:TI) in a Form 13D disclosure that was filed with the SEC on Monday, April 9th. The investor owns 914,684,709 shares of the stock valued at approximately $9,576,748,903. The reporting parties listed on the disclosure included Elliott Associates, LP, Elliott International, LP and Elliott International Capital Advisors Inc. The filing is available through the SEC website at this hyperlink.

Elliott Associates, L.P. provided the following explanation of their ownership:

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A number of other institutional investors have also modified their holdings of TI. CWM LLC raised its stake in shares of TIM by 132.1% in the fourth quarter. CWM LLC now owns 247,502 shares of the utilities provider’s stock valued at $2,136,000 after buying an additional 140,868 shares during the period. Raymond James & Associates raised its stake in shares of TIM by 14.5% in the fourth quarter. Raymond James & Associates now owns 242,315 shares of the utilities provider’s stock valued at $2,091,000 after buying an additional 30,751 shares during the period. Renaissance Technologies LLC raised its stake in shares of TIM by 23.2% in the fourth quarter. Renaissance Technologies LLC now owns 134,900 shares of the utilities provider’s stock valued at $1,164,000 after buying an additional 25,394 shares during the period. Jane Street Group LLC raised its stake in shares of TIM by 816.8% in the fourth quarter. Jane Street Group LLC now owns 107,994 shares of the utilities provider’s stock valued at $932,000 after buying an additional 96,214 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of TIM by 13.5% in the third quarter. Bank of New York Mellon Corp now owns 66,100 shares of the utilities provider’s stock valued at $622,000 after buying an additional 7,887 shares during the period. Institutional investors and hedge funds own 0.73% of the company’s stock.

Shares of NYSE:TI traded down $0.08 during midday trading on Monday, reaching $10.47. 66,030 shares of the company traded hands, compared to its average volume of 150,868. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.85 and a current ratio of 0.88. TIM has a 12 month low of $7.57 and a 12 month high of $10.83. The firm has a market cap of $22,398.61, a price-to-earnings ratio of 11.99 and a beta of 0.79.

Several analysts have issued reports on the company. ValuEngine lowered TIM from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Sanford C. Bernstein upgraded TIM from a “market perform” rating to an “outperform” rating in a research note on Friday, March 2nd. Zacks Investment Research lowered TIM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 13th. Raymond James Financial lowered TIM from a “strong-buy” rating to an “underperform” rating in a research note on Wednesday, January 17th. Finally, Goldman Sachs upgraded TIM from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $7.57 to $10.53 in a research note on Thursday, March 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.36.

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TIM Profile

Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services. It offers landline and mobile telecommunications, voice, messaging, data, Internet, and broadband services for consumers, as well as for small and medium-size enterprises, small offices/home offices, public sector clients, large accounts, and enterprises in the fixed and mobile telecommunications markets.

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Institutional Ownership by Quarter for TIM (NYSE:TI)

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