ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 26.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 599,258 shares of the company’s stock after purchasing an additional 126,459 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in ZIM Integrated Shipping Services were worth $15,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC increased its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after acquiring an additional 2,181,000 shares during the period. Marshall Wace LLP increased its stake in shares of ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after purchasing an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC bought a new stake in shares of ZIM Integrated Shipping Services during the second quarter valued at approximately $14,383,000. International Assets Investment Management LLC raised its holdings in shares of ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of ZIM Integrated Shipping Services by 306.7% during the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after buying an additional 321,100 shares during the period. 21.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ZIM shares. Barclays raised their target price on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group restated a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday. Bank of America increased their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $15.22.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE ZIM opened at $27.01 on Thursday. The business has a fifty day simple moving average of $22.55 and a 200-day simple moving average of $20.38. ZIM Integrated Shipping Services Ltd. has a 12 month low of $6.39 and a 12 month high of $30.15. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced 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. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same period in the previous year, the business earned ($1.37) EPS. On average, research analysts predict that ZIM Integrated Shipping Services Ltd. will post 13.65 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Company Profile

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.