PFG Investments LLC reduced its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Free Report) by 76.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,985 shares of the company’s stock after selling 60,806 shares during the quarter. PFG Investments LLC’s holdings in ZIM Integrated Shipping Services were worth $500,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Hoey Investments Inc. bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter worth approximately $25,000. Lodestone Wealth Management LLC bought a new position in ZIM Integrated Shipping Services during the 4th quarter worth $29,000. Quarry LP bought a new position in ZIM Integrated Shipping Services during the 3rd quarter worth $34,000. Huntington National Bank lifted its holdings in shares of ZIM Integrated Shipping Services by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the company’s stock worth $42,000 after buying an additional 2,000 shares in the last quarter. Finally, Triumph Capital Management bought a new stake in shares of ZIM Integrated Shipping Services in the third quarter valued at about $44,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have weighed in on ZIM shares. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 30th. Zacks Research raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. increased their price target on 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. Two analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and a consensus price target of $19.33.
ZIM Integrated Shipping Services Stock Performance
NYSE ZIM opened at $23.95 on Wednesday. The firm’s 50 day simple moving average is $25.44 and its 200 day simple moving average is $24.91. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 29.57 and a beta of 1.19. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. ZIM Integrated Shipping Services Ltd. has a 1 year low of $12.33 and a 1 year high of $29.97.
ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last issued its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts expect that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current fiscal year.
Insider Transactions at ZIM Integrated Shipping Services
In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 20,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $24.63, for a total transaction of $492,600.00. Following the completion of the transaction, the executive vice president owned 131,667 shares of the company’s stock, valued at approximately $3,242,958.21. The trade was a 13.19% decrease in their ownership of the stock. The sale 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 quarter. 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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