Verition Fund Management LLC Acquires 198,898 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Verition Fund Management LLC boosted its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 2,171.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,057 shares of the company's stock after purchasing an additional 198,898 shares during the quarter. Verition Fund Management LLC owned 0.17% of ZIM Integrated Shipping Services worth $5,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company's stock valued at $58,429,000 after purchasing an additional 2,181,000 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company's stock worth $53,148,000 after acquiring an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC bought a new stake in ZIM Integrated Shipping Services in the 2nd quarter valued at $14,383,000. International Assets Investment Management LLC increased its holdings in ZIM Integrated Shipping Services by 2,228.7% during the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company's stock worth $10,337,000 after purchasing an additional 385,562 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of ZIM Integrated Shipping Services by 9,573.0% in the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company's stock valued at $9,506,000 after purchasing an additional 366,647 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on ZIM shares. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an "underweight" rating in a report on Monday, November 25th. Bank of America increased their price objective on shares of 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. JPMorgan Chase & Co. reissued an "underweight" rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Jefferies Financial Group reaffirmed a "hold" rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, November 20th. Finally, Fearnley Fonds lowered ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $15.74.

ZIM Integrated Shipping Services Trading Down 1.3 %

ZIM Integrated Shipping Services stock traded down $0.26 during mid-day trading on Tuesday, hitting $19.55. 5,975,514 shares of the stock were exchanged, compared to its average volume of 6,254,655. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 1.64, a PEG ratio of 0.04 and a beta of 1.78. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services Ltd. has a 12 month low of $6.97 and a 12 month high of $30.15. The firm's fifty day simple moving average is $22.88 and its two-hundred day simple moving average is $20.71.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a dividend of $2.81 per share. The ex-dividend date is Monday, December 2nd. This represents a $11.24 annualized dividend and a yield of 57.49%. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is currently 9.72%.

ZIM Integrated Shipping Services 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.