Sei Investments Co. purchased a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,190 shares of the company’s stock, valued at approximately $769,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in ZIM Integrated Shipping Services by 8.2% during the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock valued at $596,000 after acquiring an additional 3,102 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services in the 1st quarter valued at approximately $210,000. Goldman Sachs Group Inc. increased its holdings in shares of ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after purchasing an additional 788,514 shares during the period. Geode Capital Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 5.6% in the second quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock valued at $1,915,000 after purchasing an additional 6,342 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of ZIM Integrated Shipping Services by 505.1% during the second quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock worth $1,236,000 after purchasing an additional 64,057 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.
ZIM Integrated Shipping Services Stock Performance
NYSE ZIM opened at $26.89 on Friday. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 33.19 and a beta of 1.21. The business’s 50 day moving average is $25.14 and its two-hundred day moving average is $25.59. ZIM Integrated Shipping Services Ltd. has a 12-month low of $12.33 and a 12-month high of $29.97. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14.
Wall Street Analysts Forecast Growth
ZIM has been the subject of several recent research reports. Barclays increased their price target 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 shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. upped their price objective on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.33.
Check Out Our Latest Report on ZIM Integrated Shipping Services
Insider Transactions at ZIM Integrated Shipping Services
In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 20,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $24.63, for a total value of $492,600.00. Following the completion of the sale, the executive vice president owned 131,667 shares of the company’s stock, valued at approximately $3,242,958.21. This trade represents a 13.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 61,000 shares of company stock valued at $1,537,310 in the last three months. Corporate insiders own 1.30% of the company’s stock.
ZIM Integrated Shipping Services Company Profile
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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