Sparta 24 Ltd. Makes New Investment in ZIM Integrated Shipping Services Ltd. $ZIM

Sparta 24 Ltd. bought a new stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 950,464 shares of the company’s stock, valued at approximately $12,879,000. ZIM Integrated Shipping Services accounts for about 11.8% of Sparta 24 Ltd.’s portfolio, making the stock its 3rd largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. VestGen Advisors LLC bought a new stake in ZIM Integrated Shipping Services in the 2nd quarter valued at about $2,075,000. Global Retirement Partners LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the second quarter valued at approximately $570,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of ZIM Integrated Shipping Services during the first quarter valued at approximately $8,112,000. Leuthold Group LLC bought a new stake in shares of ZIM Integrated Shipping Services during the second quarter valued at approximately $205,000. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of ZIM Integrated Shipping Services by 262.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 328,041 shares of the company’s stock worth $5,278,000 after buying an additional 237,506 shares during the period. 21.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZIM has been the topic of several analyst reports. Fearnley Fonds raised ZIM Integrated Shipping Services from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. UBS Group set a $9.70 price target on ZIM Integrated Shipping Services in a report on Monday, November 24th. JPMorgan Chase & Co. reduced their price objective on shares of ZIM Integrated Shipping Services from $9.70 to $8.70 and set an “underweight” rating for the company in a report on Monday, December 1st. Barclays increased 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 research report on Friday, December 19th. Finally, Wall Street Zen upgraded shares of ZIM Integrated Shipping Services from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Four analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $14.15.

ZIM Integrated Shipping Services Trading Up 6.4%

Shares of ZIM stock opened at $22.25 on Wednesday. The stock has a 50-day simple moving average of $18.58 and a 200 day simple moving average of $16.18. The stock has a market capitalization of $2.68 billion, a P/E ratio of 2.67 and a beta of 1.70. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $11.03 and a fifty-two week high of $22.80. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 1.12.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Thursday, November 20th. The company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65). ZIM Integrated Shipping Services had a net margin of 13.22% and a return on equity of 25.18%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. On average, sell-side 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 was paid on Monday, December 8th. Investors of record on Monday, December 1st were paid a dividend of $0.31 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. This represents a $1.24 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Monday, December 1st. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 2.88%.

About ZIM Integrated Shipping Services

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.