ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Short Interest Up 48.5% in August

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 16,020,000 shares, an increase of 48.5% from the August 15th total of 10,790,000 shares. Approximately 17.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,050,000 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth $127,000. Charles Schwab Investment Management Inc. raised its position in shares of ZIM Integrated Shipping Services by 82.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after buying an additional 231,955 shares in the last quarter. Jump Financial LLC bought a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at approximately $130,000. Allianz Asset Management GmbH increased its stake in ZIM Integrated Shipping Services by 1,446.0% during the 4th quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock worth $1,595,000 after acquiring an additional 151,102 shares during the period. Finally, Olympiad Research LP raised its holdings in ZIM Integrated Shipping Services by 2.8% in the 4th quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after acquiring an additional 1,364 shares in the last quarter. Institutional investors own 21.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZIM. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Barclays increased their price target on 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. Bank of America lifted their price objective on 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. Jefferies Financial Group restated a “buy” rating and set a $22.00 target price on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Finally, Citigroup cut ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their price target for the company from $11.60 to $13.00 in a research note on Thursday, June 6th. Four research analysts have rated the stock with a sell rating and one has issued a buy rating to the company. According to MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Reduce” and an average target price of $14.84.

ZIM Integrated Shipping Services Stock Up 1.3 %

ZIM stock traded up $0.23 during midday trading on Monday, hitting $18.53. The company’s stock had a trading volume of 2,901,361 shares, compared to its average volume of 6,056,159. 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 company’s fifty day moving average price is $18.63 and its 200 day moving average price is $16.43. The stock has a market capitalization of $2.23 billion, a P/E ratio of -0.86, a PEG ratio of 0.04 and a beta of 1.83. ZIM Integrated Shipping Services has a twelve month low of $6.39 and a twelve month high of $23.82.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $1.01. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted ($1.37) earnings per share. As a group, equities research analysts predict that ZIM Integrated Shipping Services will post 10.87 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a $0.93 dividend. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 annualized dividend and a yield of 20.08%. The ex-dividend date was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio is currently -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.