ZIM Integrated Shipping Services Ltd. $ZIM Stake Lessened by Clal Insurance Enterprises Holdings Ltd

Key Points

• Clal Insurance Enterprises Holdings sharply reduced its ZIM stake by 83.7% in the first quarter, selling 3.54 million shares and leaving it with 690,000 shares worth about $18.2 million.
• ZIM’s latest earnings missed analyst expectations, reporting a loss of $0.72 per share versus the expected $0.22 loss, while revenue came in at $1.40 billion versus $1.48 billion forecast.
• Analyst sentiment remains mixed but cautious: ZIM currently has an average “Hold” rating, with a consensus price target of $19.33, even after some firms raised targets or upgraded their view.

Clal Insurance Enterprises Holdings Ltd lessened its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 83.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 690,000 shares of the company's stock after selling 3,542,000 shares during the period. Clal Insurance Enterprises Holdings Ltd owned about 0.57% of ZIM Integrated Shipping Services worth $18,182,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hoey Investments Inc. purchased a new stake in ZIM Integrated Shipping Services in the 4th quarter worth about $25,000. Lodestone Wealth Management LLC purchased a new position in ZIM Integrated Shipping Services during the 4th quarter valued at about $29,000. Huntington National Bank increased its holdings in shares of ZIM Integrated Shipping Services by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the company's stock valued at $42,000 after purchasing an additional 2,000 shares during the period. Assetmark Inc. acquired a new position in shares of ZIM Integrated Shipping Services in the 1st quarter valued at about $59,000. Finally, Quarry LP purchased a new stake in shares of ZIM Integrated Shipping Services in the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 21.42% of the company's stock.

Insiders Place Their Bets

In related news, EVP Saar Dotan sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $24.63, for a total transaction of $492,600.00. Following the transaction, the executive vice president owned 131,667 shares of the company's stock, valued at approximately $3,242,958.21. This trade represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 61,000 shares of company stock worth $1,537,310 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. Zacks Research upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. increased their target price on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an "underweight" rating in a research report on Tuesday, June 30th. Finally, Barclays lifted 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 note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, ZIM Integrated Shipping Services has an average rating of "Hold" and a consensus price target of $19.33.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM stock opened at $24.93 on Wednesday. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $12.33 and a fifty-two week high of $29.97. The stock's 50-day moving average is $25.01 and its two-hundred day moving average is $25.18. 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 firm has a market cap of $3.01 billion, a P/E ratio of 30.78 and a beta of 1.19.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly 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 firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.48 billion. ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. Analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Company 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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