Allianz Asset Management GmbH Sells 92,874 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Allianz Asset Management GmbH lowered its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,006,024 shares of the company's stock after selling 92,874 shares during the quarter. Allianz Asset Management GmbH owned 0.83% of ZIM Integrated Shipping Services worth $26,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZIM. Value Base Ltd. purchased a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter valued at about $1,316,000. Yelin Lapidot Holdings Management Ltd. raised its holdings in shares of ZIM Integrated Shipping Services by 1.2% during the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company's stock valued at $86,028,000 after purchasing an additional 40,000 shares during the last quarter. Sagil Capital LLP purchased a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $1,486,000. Weiss Asset Management LP bought a new position in ZIM Integrated Shipping Services during the first quarter valued at approximately $7,283,000. Finally, Global Retirement Partners LLC bought a new position in ZIM Integrated Shipping Services during the second quarter valued at approximately $1,023,000. 21.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZIM. JPMorgan Chase & Co. boosted their target price on shares of 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. Barclays raised their price target on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the stock an "underweight" rating in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. Finally, Zacks Research cut ZIM Integrated Shipping Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of "Hold" and a consensus price target of $19.83.

Insider Buying and Selling

In related news, EVP Eyal Ben-Amram sold 4,000 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $28.57, for a total value of $114,280.00. Following the completion of the transaction, the executive vice president owned 6,486 shares of the company's stock, valued at approximately $185,305.02. This represents a 38.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Xavier Destriau sold 12,084 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $28.80, for a total value of $348,019.20. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 288,840 shares of company stock worth $8,140,860 in the last three months. Corporate insiders own 1.30% of the company's stock.

ZIM Integrated Shipping Services Price Performance

NYSE ZIM opened at $28.59 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. ZIM Integrated Shipping Services Ltd. has a 12 month low of $12.33 and a 12 month high of $29.97. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 24.86 and a beta of 1.18. The company's 50 day moving average is $26.05 and its two-hundred day moving average is $26.28.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.27). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. As a group, research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

ZIM Integrated Shipping Services 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.

Want to see what other hedge funds are holding ZIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.