207,773 Shares in ZIM Integrated Shipping Services Ltd. $ZIM Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital purchased 207,773 shares of ZIM Integrated Shipping Services in the first quarter, valued at approximately $5.5 million and representing a 0.17% stake. Institutional investors and hedge funds collectively own 21.42% of ZIM.
• ZIM reported a quarterly loss of $0.72 per share, missing the $0.22 consensus estimate, while revenue of $1.40 billion also fell short of expectations. Analysts forecast full-year earnings of $3.15 per share.
• The stock opened at $25.21, compared with a consensus analyst price target of $19.33 and an overall “Hold” rating. Analysts’ views range from “Strong Buy” to “Sell,” while insiders have sold 61,000 shares worth about $1.54 million over the past 90 days.

Arrowstreet Capital Limited Partnership bought a new stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 207,773 shares of the company's stock, valued at approximately $5,475,000. Arrowstreet Capital Limited Partnership owned 0.17% of ZIM Integrated Shipping Services as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZIM. Royal Bank of Canada increased its stake in ZIM Integrated Shipping Services by 8.2% in the first 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 bought a new stake in ZIM Integrated Shipping Services during the first quarter worth $210,000. Goldman Sachs Group Inc. lifted its stake in ZIM Integrated Shipping Services by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock worth $68,879,000 after purchasing an additional 788,514 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 5.6% in the 2nd 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 in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of ZIM Integrated Shipping Services by 505.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company's stock valued at $1,236,000 after purchasing an additional 64,057 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM opened at $25.21 on Monday. The stock 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 current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The stock's 50-day moving average is $24.90 and its 200-day moving average is $25.33. 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 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 during 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 research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ZIM shares. Barclays lifted their price target on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an "underweight" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised their price objective on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an "underweight" rating in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Finally, Zacks Research upgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $19.33.

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 stock was sold at an average price of $24.63, for a total value of $492,600.00. Following the sale, the executive vice president owned 131,667 shares in the company, valued at approximately $3,242,958.21. The trade was a 13.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 61,000 shares of company stock worth $1,537,310. 1.30% of the stock is currently owned by insiders.

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.

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