Connor Clark & Lunn Investment Management Ltd. Increases Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 26.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 599,258 shares of the company's stock after buying an additional 126,459 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.50% of ZIM Integrated Shipping Services worth $15,377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZIM. International Assets Investment Management LLC raised its position 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 valued at $10,337,000 after purchasing an additional 385,562 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in ZIM Integrated Shipping Services during the 2nd quarter valued at $2,343,000. SG Americas Securities LLC boosted its stake in ZIM Integrated Shipping Services by 1,226.7% during the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company's stock valued at $8,816,000 after purchasing an additional 317,684 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of ZIM Integrated Shipping Services by 337.7% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 51,450 shares of the company's stock worth $1,320,000 after buying an additional 39,695 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company's stock worth $9,440,000 after purchasing an additional 321,100 shares during the period. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Trading Down 10.9 %

ZIM Integrated Shipping Services stock traded down $2.95 during trading on Thursday, hitting $24.06. The company had a trading volume of 5,410,998 shares, compared to its average volume of 6,083,922. ZIM Integrated Shipping Services Ltd. has a 1-year low of $6.39 and a 1-year high of $30.15. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The company's 50 day simple moving average is $22.55 and its 200-day simple moving average is $20.38. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -1.48, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm posted ($1.37) earnings per share. As a group, analysts expect that ZIM Integrated Shipping Services Ltd. will post 13.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on ZIM shares. Barclays raised their price target on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an "underweight" rating in a report on Wednesday, October 23rd. Jefferies Financial Group reiterated a "hold" rating and issued a $25.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Bank of America boosted 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. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $15.22.

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.