Renaissance Technologies LLC Buys 58,603 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Renaissance Technologies increased its stake in ZIM Integrated Shipping Services by 2.0% in the first quarter, adding 58,603 shares and bringing its total holding to 2.94 million shares worth about $77.4 million.
• ZIM shares fell 2.7% to $24.89, with the stock trading between a 12-month low of $12.33 and high of $29.97 and carrying a market cap of about $3.0 billion.
• The company reported a wider-than-expected quarterly loss, posting EPS of -$0.72 versus estimates of -$0.22, while revenue of $1.40 billion also missed analyst expectations. Analysts currently have a consensus rating of Hold with a $19.33 price target.

Renaissance Technologies LLC grew its stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,936,288 shares of the company's stock after acquiring an additional 58,603 shares during the quarter. Renaissance Technologies LLC owned about 2.44% of ZIM Integrated Shipping Services worth $77,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hoey Investments Inc. purchased a new stake in ZIM Integrated Shipping Services during the 4th quarter valued at $25,000. Lodestone Wealth Management LLC purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth $29,000. Huntington National Bank grew its holdings in shares of ZIM Integrated Shipping Services by 200,000.0% in the fourth quarter. Huntington National Bank now owns 2,001 shares of the company's stock worth $42,000 after acquiring an additional 2,000 shares during the period. Assetmark Inc. bought a new stake in shares of ZIM Integrated Shipping Services in the first quarter worth $59,000. Finally, Quarry LP purchased a new stake in ZIM Integrated Shipping Services during the third quarter valued at $34,000. Hedge funds and other institutional investors own 21.42% of the company's stock.

ZIM Integrated Shipping Services Trading Down 2.7%

ZIM Integrated Shipping Services stock opened at $24.89 on Friday. ZIM Integrated Shipping Services Ltd. has a 12-month low of $12.33 and a 12-month high of $29.97. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 30.73 and a beta of 1.19. The firm has a 50 day moving average of $24.98 and a 200 day moving average of $25.23. 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 (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.50). The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.48 billion. ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. As a group, research analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Insider Buying and Selling at ZIM Integrated Shipping Services

In related news, EVP Saar Dotan sold 20,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $24.63, for a total value 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. This represents a 13.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 61,000 shares of company stock worth $1,537,310. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Zacks Research raised ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an "underweight" rating in a report on Tuesday, June 30th. Barclays boosted their target price on shares of 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, Weiss Ratings reiterated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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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