Stock Traders Purchase Large Volume of Put Options on ZIM Integrated Shipping Services (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Free Report) saw some unusual options trading activity on Thursday. Stock traders purchased 15,438 put options on the stock. This is an increase of 233% compared to the typical volume of 4,641 put options.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZIM. Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. Barclays raised their price objective on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a report on Tuesday, June 30th. Zacks Research raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. upped their target price on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.33.

View Our Latest Analysis on ZIM

ZIM Integrated Shipping Services Trading Up 2.0%

NYSE:ZIM opened at $25.21 on Friday. The firm has a 50-day simple moving average of $24.90 and a 200-day simple moving average of $25.32. ZIM Integrated Shipping Services has a one year low of $12.33 and a one year high of $29.97. The firm has a market cap of $3.04 billion, a P/E ratio of 31.13 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.19.

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) last released its quarterly earnings data on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. Equities analysts anticipate that ZIM Integrated Shipping Services will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 20,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $24.63, for a total value of $492,600.00. Following the transaction, the executive vice president directly owned 131,667 shares in the company, valued at $3,242,958.21. This represents a 13.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 61,000 shares of company stock valued at $1,537,310. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds have recently bought and sold shares of ZIM. Pictet Asset Management Holding SA increased its holdings in shares of ZIM Integrated Shipping Services by 2.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 22,528 shares of the company’s stock valued at $594,000 after acquiring an additional 497 shares during the period. Lazard Asset Management LLC lifted its stake in shares of ZIM Integrated Shipping Services by 4.7% during the 3rd quarter. Lazard Asset Management LLC now owns 14,308 shares of the company’s stock worth $194,000 after purchasing an additional 638 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in ZIM Integrated Shipping Services by 2.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 24,219 shares of the company’s stock valued at $514,000 after purchasing an additional 689 shares in the last quarter. HUB Investment Partners LLC boosted its position in ZIM Integrated Shipping Services by 6.4% during the second quarter. HUB Investment Partners LLC now owns 11,920 shares of the company’s stock valued at $192,000 after purchasing an additional 722 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in ZIM Integrated Shipping Services by 0.8% in the first quarter. Public Employees Retirement System of Ohio now owns 129,800 shares of the company’s stock valued at $3,420,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

(Get Free Report)

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.

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