Meitav Investment House Ltd. Purchases 472,092 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Meitav Investment House Ltd. increased its ZIM Integrated Shipping Services stake by 13.7% in the first quarter, buying 472,092 additional shares and bringing its total to 3,906,396 shares worth about $102.9 million.
• ZIM shares rose 1.5% to $24.07 on Tuesday, with the company now carrying a market cap of $2.90 billion and trading below its 52-week high of $29.97.
• ZIM reported a weaker-than-expected quarter, posting EPS of -$0.72 versus an expected -$0.22 and revenue of $1.40 billion versus $1.48 billion estimated, while analysts currently rate the stock a consensus Hold.

Meitav Investment House Ltd. grew its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 13.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,906,396 shares of the company's stock after acquiring an additional 472,092 shares during the quarter. ZIM Integrated Shipping Services comprises approximately 1.1% of Meitav Investment House Ltd.'s holdings, making the stock its 24th largest holding. Meitav Investment House Ltd. owned 3.24% of ZIM Integrated Shipping Services worth $102,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pictet Asset Management Holding SA lifted its position in ZIM Integrated Shipping Services by 2.3% during the first quarter. Pictet Asset Management Holding SA now owns 22,528 shares of the company's stock valued at $594,000 after purchasing an additional 497 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of ZIM Integrated Shipping Services by 4.7% during the 3rd quarter. Lazard Asset Management LLC now owns 14,308 shares of the company's stock valued at $194,000 after buying an additional 638 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 2.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 24,219 shares of the company's stock valued at $514,000 after acquiring an additional 689 shares during the last quarter. HUB Investment Partners LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 6.4% in the 2nd quarter. HUB Investment Partners LLC now owns 11,920 shares of the company's stock valued at $192,000 after acquiring an additional 722 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in ZIM Integrated Shipping Services by 1.2% in the third quarter. Public Employees Retirement System of Ohio now owns 95,400 shares of the company's stock worth $1,293,000 after acquiring an additional 1,100 shares in the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Stock Up 1.5%

Shares of ZIM stock traded up $0.36 on Tuesday, hitting $24.07. The stock had a trading volume of 696,832 shares, compared to its average volume of 2,461,942. ZIM Integrated Shipping Services Ltd. has a one year low of $12.33 and a one year high of $29.97. The business has a 50 day moving average price of $25.48 and a 200 day moving average price of $24.88. The company has a market cap of $2.90 billion, a PE ratio of 29.74 and a beta of 1.19. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.14.

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 (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.50). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%. Research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZIM has been the topic of a number of recent research reports. Weiss Ratings restated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Zacks Research upgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. Barclays boosted their target price on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an "underweight" rating in a research report on Tuesday, June 30th. Finally, 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. Two investment 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $19.33.

Insider Buying and Selling at ZIM Integrated Shipping Services

In other news, EVP Saar Dotan sold 11,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $26.11, for a total transaction of $287,210.00. Following the transaction, the executive vice president directly owned 90,667 shares in the company, valued at approximately $2,367,315.37. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 61,000 shares of company stock valued at $1,537,310. 1.30% of the stock is currently owned by corporate insiders.

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.

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