Global Retirement Partners LLC Acquires Shares of 39,357 ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Global Retirement Partners acquired 39,357 ZIM shares in the second quarter, valued at approximately $1.02 million. Institutional investors and hedge funds collectively own 21.42% of the company.
• ZIM reported quarterly revenue of $1.40 billion and an adjusted loss of $0.72 per share, missing analysts’ expectations of $1.48 billion in revenue and a $0.22 loss per share.
• Analysts maintain a consensus “Hold” rating with an average price target of $19.33, below the stock’s reported $28.50 price; meanwhile, insiders have sold 61,000 shares worth about $1.54 million over the past 90 days.

Global Retirement Partners LLC bought a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 39,357 shares of the company's stock, valued at approximately $1,023,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ZIM. Goldman Sachs Group Inc. boosted its position in shares of 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 buying an additional 788,514 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter worth approximately $89,845,000. Meitav Investment House Ltd. lifted its stake in ZIM Integrated Shipping Services by 13.7% during the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company's stock worth $102,934,000 after purchasing an additional 472,092 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. boosted its stake in ZIM Integrated Shipping Services by 1.2% in 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 buying an additional 40,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in ZIM Integrated Shipping Services by 2.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,936,288 shares of the company's stock worth $77,371,000 after purchasing an additional 58,603 shares in 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 $28.50 on Wednesday. ZIM Integrated Shipping Services Ltd. has a twelve month low of $12.33 and a twelve month high of $29.97. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.14. The business's 50-day moving average price is $25.33 and its two-hundred day moving average price is $25.71. The stock has a market cap of $3.44 billion, a P/E ratio of 35.19 and a beta of 1.21.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released 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). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.48 billion. As a group, equities analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Insider Activity

In other news, EVP Saar Dotan sold 11,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.11, for a total value of $287,210.00. Following the sale, the executive vice president owned 90,667 shares of the company's stock, valued at approximately $2,367,315.37. This represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 2nd. Weiss Ratings reissued a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Barclays lifted their price objective on shares of 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. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $19.33.

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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