Independent Advisor Alliance Takes Position in ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Independent Advisor Alliance has acquired 17,274 shares of ZIM Integrated Shipping Services, worth approximately $252,000, indicating a significant investment by this institutional investor.
• Multiple large investors have increased their stakes in ZIM, with Geode Capital Management raising its position by 8.8% and Russell Investments boosting theirs by 121.7% during the fourth quarter.
• ZIM Integrated Shipping Services reported a strong quarterly earnings performance, with an EPS of $2.45, surpassing analysts' expectations, alongside a high dividend yield of 1,696.0%.

Independent Advisor Alliance bought a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,274 shares of the company's stock, valued at approximately $252,000.

Other large investors have also recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new stake in shares of ZIM Integrated Shipping Services during the first quarter valued at $30,000. Altshuler Shaham Ltd raised its holdings in shares of ZIM Integrated Shipping Services by 650.0% in the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company's stock valued at $32,000 after acquiring an additional 1,300 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at about $45,000. Miracle Mile Advisors LLC bought a new stake in shares of ZIM Integrated Shipping Services in the first quarter valued at about $146,000. Finally, TD Asset Management Inc bought a new stake in shares of ZIM Integrated Shipping Services in the first quarter valued at about $155,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group restated a "hold" rating and issued a $17.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday. Citigroup restated a "sell" rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Clarkson Capital downgraded ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price objective for the company. in a report on Tuesday, May 20th. Finally, Barclays lifted their price objective on ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the company an "underweight" rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Strong Sell" and a consensus price target of $14.82.

ZIM Integrated Shipping Services Stock Down 4.1%

ZIM Integrated Shipping Services stock traded down $0.6250 during trading hours on Thursday, reaching $14.7050. The stock had a trading volume of 7,585,693 shares, compared to its average volume of 5,647,141. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 0.88, a PEG ratio of 0.21 and a beta of 1.75. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.18 and a quick ratio of 1.10. The business's 50 day moving average price is $16.21 and its 200-day moving average price is $16.69. ZIM Integrated Shipping Services Ltd. has a 52 week low of $11.03 and a 52 week high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its earnings results on Wednesday, August 20th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($1.31). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 50.37% and a net margin of 23.37%. Sell-side analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, September 2nd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.6%. ZIM Integrated Shipping Services's dividend payout ratio is presently 4.76%.

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.