Eli Glickman Sells 254,221 Shares of ZIM Integrated Shipping Services (NYSE:ZIM) Stock

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Free Report) CEO Eli Glickman sold 254,221 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $28.22, for a total value of $7,174,116.62. Following the transaction, the chief executive officer directly owned 233,473 shares in the company, valued at approximately $6,588,608.06. The trade was a 52.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ZIM Integrated Shipping Services Price Performance

NYSE ZIM opened at $28.11 on Wednesday. ZIM Integrated Shipping Services Ltd. has a one year low of $12.33 and a one year high of $29.97. The stock has a 50-day moving average of $25.58 and a 200 day moving average of $25.91. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 24.44 and a beta of 1.21. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24.

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ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last issued its earnings results on Wednesday, August 19th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. On average, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. JPMorgan Chase & Co. increased their price target 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. Zacks Research upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Finally, Barclays lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.33.

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Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its holdings in ZIM Integrated Shipping Services by 2,475.1% during the second quarter. California State Teachers Retirement System now owns 3,270,800 shares of the company’s stock valued at $85,041,000 after purchasing an additional 3,143,783 shares during the period. Sigma Planning Corp raised its stake in shares of ZIM Integrated Shipping Services by 3.8% in the second quarter. Sigma Planning Corp now owns 11,475 shares of the company’s stock worth $298,000 after buying an additional 425 shares during the period. Van ECK Associates Corp raised its stake in shares of ZIM Integrated Shipping Services by 1.9% in the second quarter. Van ECK Associates Corp now owns 50,729 shares of the company’s stock worth $1,319,000 after buying an additional 927 shares during the period. Hsbc Holdings PLC lifted its position in shares of ZIM Integrated Shipping Services by 0.7% during the 2nd quarter. Hsbc Holdings PLC now owns 626,390 shares of the company’s stock valued at $16,236,000 after buying an additional 4,250 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of ZIM Integrated Shipping Services during the 2nd quarter valued at about $26,000. 21.42% of the stock is owned by institutional investors.

About ZIM Integrated Shipping Services

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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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