Weiss Asset Management LP Takes Position in ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Weiss Asset Management LP initiated a new position in ZIM Integrated Shipping Services, buying 276,411 shares worth about $7.28 million in the first quarter.
• ZIM shares were down 2.7% to $24.89, with the stock trading near its recent moving averages and valuing the company at about $3.0 billion.
• The company recently reported weaker-than-expected earnings, posting an EPS loss of $0.72 versus estimates of a $0.22 loss, while revenue also came in below forecasts; analysts currently have an overall Hold rating with an average target of $19.33.

Weiss Asset Management LP purchased a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 276,411 shares of the company's stock, valued at approximately $7,283,000. Weiss Asset Management LP owned 0.23% of ZIM Integrated Shipping Services at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Y.D. More Investments Ltd grew its holdings in shares of ZIM Integrated Shipping Services by 378,174.5% during the 4th quarter. Y.D. More Investments Ltd now owns 3,782,745 shares of the company's stock worth $80,308,000 after acquiring an additional 3,781,745 shares during the period. Value Base Ltd. purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at approximately $1,316,000. Sagil Capital LLP purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at approximately $1,486,000. PFG Investments LLC lifted its stake in shares of ZIM Integrated Shipping Services by 132.8% in the 4th quarter. PFG Investments LLC now owns 79,791 shares of the company's stock valued at $1,694,000 after purchasing an additional 45,514 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of ZIM Integrated Shipping Services by 249.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 391,770 shares of the company's stock valued at $8,317,000 after purchasing an additional 279,510 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Trading Down 2.7%

Shares of ZIM stock opened at $24.89 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 30.73 and a beta of 1.19. ZIM Integrated Shipping Services Ltd. has a 1 year low of $12.33 and a 1 year high of $29.97. The firm has a fifty day moving average price of $24.98 and a 200-day moving average price of $25.23.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.50). The company had revenue of $1.40 billion during 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%. As a group, equities analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ZIM shares. JPMorgan Chase & Co. upped their price target on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an "underweight" rating in a research note on Tuesday, June 30th. Zacks Research upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Finally, Barclays lifted their price target 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. Two research 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 price target of $19.33.

Insider Buying and Selling

In related news, EVP Saar Dotan sold 11,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.11, for a total transaction of $287,210.00. Following the completion of the transaction, the executive vice president directly owned 90,667 shares in the company, valued at approximately $2,367,315.37. The trade was a 10.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 61,000 shares of company stock valued at $1,537,310 in the last three months. Corporate insiders own 1.30% of the company's stock.

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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