Insider Selling: ZIM Integrated Shipping Services (NYSE:ZIM) EVP Sells 458 Shares

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Arik Elimelech sold 458 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $29.99, for a total transaction of $13,735.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ZIM Integrated Shipping Services Trading Down 3.2%

ZIM Integrated Shipping Services stock traded down $0.96 during trading hours on Wednesday, hitting $29.11. The company had a trading volume of 1,219,706 shares, compared to its average volume of 2,230,474. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24. The firm has a market cap of $3.51 billion, a P/E ratio of 25.32 and a beta of 1.18. The company has a 50-day moving average price of $26.13 and a two-hundred day moving average price of $26.29. ZIM Integrated Shipping Services Ltd. has a 1 year low of $12.33 and a 1 year high of $30.40.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%.The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.79 billion. On average, sell-side analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Zacks Research lowered ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Barclays increased their price target on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Thursday, August 27th. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.83.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently made changes to their positions in ZIM. Value Base Ltd. acquired a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter worth $1,316,000. Yelin Lapidot Holdings Management Ltd. increased its position in ZIM Integrated Shipping Services by 1.2% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company’s stock valued at $86,028,000 after buying an additional 40,000 shares in the last quarter. Sagil Capital LLP acquired a new position in ZIM Integrated Shipping Services during the 4th quarter valued at about $1,486,000. Weiss Asset Management LP purchased a new stake in ZIM Integrated Shipping Services in the first quarter valued at about $7,283,000. Finally, Global Retirement Partners LLC purchased a new stake in ZIM Integrated Shipping Services in the second quarter valued at about $1,023,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

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.