Seven Eight Capital LP Takes Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Seven Eight Capital LP purchased a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 72,957 shares of the company’s stock, valued at approximately $1,617,000. Seven Eight Capital LP owned 0.06% of ZIM Integrated Shipping Services at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Scarborough Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 4th quarter worth approximately $58,000. Russell Investments Group Ltd. raised its position in ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after acquiring an additional 5,667 shares during the period. Mather Group LLC. purchased a new position in ZIM Integrated Shipping Services during the second quarter valued at $96,000. Private Advisor Group LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at about $127,000. Finally, Jump Financial LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth about $130,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZIM. Barclays raised their price target on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Jefferies Financial Group restated a “buy” rating and issued a $22.00 target price on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $11.60 to $13.00 in a research note on Thursday, June 6th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Bank of America lifted their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $14.84.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $19.12 on Thursday. ZIM Integrated Shipping Services Ltd. has a 1 year low of $6.39 and a 1 year high of $23.82. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a market capitalization of $2.30 billion, a PE ratio of -0.90, a price-to-earnings-growth ratio of 0.04 and a beta of 1.83. The business has a 50 day simple moving average of $18.61 and a 200-day simple moving average of $16.54.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the business earned ($1.37) EPS. Equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 19.46%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services’s payout ratio is presently -4.35%.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.