Quinn Opportunity Partners LLC Acquires New Holdings in ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Quinn Opportunity Partners LLC established a new position of 386,529 ZIM shares (~$5.24M) in Q3, equal to about 0.32% of the company at quarter-end.
• ZIM raised its quarterly dividend to $0.88 (annualized $3.52) with an ex-dividend/record date of March 20, implying a roughly 13.0% yield.
• Analysts are mixed and the consensus rating is "Reduce" with a $17.21 target, even as the stock trades near $27 and the company recently beat EPS estimates for the quarter.

Quinn Opportunity Partners LLC bought a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 386,529 shares of the company's stock, valued at approximately $5,237,000. Quinn Opportunity Partners LLC owned about 0.32% of ZIM Integrated Shipping Services at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock worth $68,879,000 after buying an additional 788,514 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in ZIM Integrated Shipping Services by 134.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,368,287 shares of the company's stock worth $70,286,000 after purchasing an additional 2,508,432 shares during the last quarter. American Century Companies Inc. grew its stake in shares of ZIM Integrated Shipping Services by 13.5% during the 3rd quarter. American Century Companies Inc. now owns 2,986,637 shares of the company's stock valued at $40,469,000 after purchasing an additional 354,538 shares during the period. Yelin Lapidot Holdings Management Ltd. increased its position in shares of ZIM Integrated Shipping Services by 96.7% during the 3rd quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,422,986 shares of the company's stock valued at $32,831,000 after purchasing an additional 1,191,480 shares during the last quarter. Finally, Jump Financial LLC increased its position in shares of ZIM Integrated Shipping Services by 204.0% during the 2nd quarter. Jump Financial LLC now owns 1,536,092 shares of the company's stock valued at $24,716,000 after purchasing an additional 1,030,817 shares during the last quarter. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of ZIM Integrated Shipping Services from $15.00 to $20.00 and gave the stock a "hold" rating in a research note on Monday, December 8th. Barclays upped their target price on shares of ZIM Integrated Shipping Services from $13.30 to $13.70 and gave the company an "underweight" rating in a report on Friday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of ZIM Integrated Shipping Services from $9.70 to $8.70 and set an "underweight" rating on the stock in a research report on Monday, December 1st. The Goldman Sachs Group reiterated a "neutral" rating and set a $21.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, January 14th. Finally, Citigroup raised shares of ZIM Integrated Shipping Services from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $11.50 to $31.80 in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $17.21.

ZIM Integrated Shipping Services Stock Down 0.8%

Shares of ZIM opened at $27.00 on Friday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 6.78 and a beta of 1.57. ZIM Integrated Shipping Services Ltd. has a 1 year low of $11.03 and a 1 year high of $29.97. The business's 50 day simple moving average is $24.47 and its 200-day simple moving average is $19.06. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.23 and a quick ratio of 1.22.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its earnings results on Monday, March 9th. The company reported ($0.58) earnings per share for the quarter, beating analysts' consensus estimates of ($1.01) by $0.43. ZIM Integrated Shipping Services had a net margin of 6.94% and a return on equity of 9.33%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, equities analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 20th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, March 20th. This represents a $3.52 annualized dividend and a dividend yield of 13.0%. This is a positive change from ZIM Integrated Shipping Services's previous quarterly dividend of $0.31. ZIM Integrated Shipping Services's dividend payout ratio is currently 1.51%.

ZIM Integrated Shipping Services Profile

ZIM Integrated Shipping Services Ltd. NYSE: ZIM is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.

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