ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Short Interest Down 18.4% in April

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 3,108,732 shares, a drop of 18.4% from the March 31st total of 3,809,528 shares. Based on an average daily volume of 1,256,051 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.6% of the shares of the stock are sold short.

Institutional Trading of ZIM Integrated Shipping Services

A number of institutional investors have recently bought and sold shares of ZIM. Hoey Investments Inc. purchased a new stake in ZIM Integrated Shipping Services during the fourth quarter worth approximately $25,000. Lodestone Wealth Management LLC purchased a new position in ZIM Integrated Shipping Services in the fourth quarter valued at approximately $29,000. Quarry LP purchased a new position in ZIM Integrated Shipping Services in the third quarter valued at approximately $34,000. Huntington National Bank raised its holdings in ZIM Integrated Shipping Services by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the company’s stock worth $42,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Triumph Capital Management acquired a new stake in ZIM Integrated Shipping Services during the third quarter worth approximately $44,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Stock Up 1.6%

Shares of NYSE ZIM traded up $0.43 during mid-day trading on Thursday, hitting $26.44. The company had a trading volume of 883,525 shares, compared to its average volume of 1,072,291. The company has a market capitalization of $3.18 billion, a PE ratio of 6.64 and a beta of 1.55. The business’s 50-day simple moving average is $27.06 and its 200 day simple moving average is $22.02. ZIM Integrated Shipping Services has a 1-year low of $12.33 and a 1-year high of $29.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.23 and a quick ratio of 1.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Saturday, February 14th. The company reported $0.32 EPS for the quarter. ZIM Integrated Shipping Services had a return on equity of 9.33% and a net margin of 6.94%.The firm had revenue of $1.48 billion during the quarter. On average, analysts predict that ZIM Integrated Shipping Services will post -7.24 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, March 20th were given a $0.88 dividend. The ex-dividend date of this dividend was Friday, March 20th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 13.3%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. ZIM Integrated Shipping Services’s payout ratio is currently 1.51%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZIM. Citigroup raised ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and raised their target price for the stock from $11.50 to $31.80 in a research note on Thursday, February 19th. Weiss Ratings downgraded shares of ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Barclays upped their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an “underweight” rating in a report on Monday, March 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $21.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, January 14th. Finally, Fearnley Fonds upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and an average target price of $18.14.

ZIM Integrated Shipping Services Company 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.