Arik Elimelech Sells 458 Shares of ZIM Integrated Shipping Services (NYSE:ZIM) Stock

Key Points

• Insider sale: EVP Arik Elimelech sold 458 ZIM shares at an average price of $29.99, generating $13,735.42 in proceeds.
• Stock performance and earnings: ZIM traded at $29.11, near its 12-month high of $30.40. Its latest quarterly earnings of $0.53 per share missed analysts’ $0.80 estimate, while revenue of $1.78 billion was roughly in line with expectations.
• Analyst outlook: Analysts maintain an overall “Hold” rating, with an average price target of $19.83; ratings include one Strong Buy, five Holds and two Sells.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) EVP Arik Elimelech sold 458 shares of ZIM Integrated Shipping Services stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $29.99, for a total transaction of $13,735.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ZIM Integrated Shipping Services Price Performance

ZIM stock traded down $0.96 during mid-day trading on Wednesday, hitting $29.11. The company had a trading volume of 1,219,706 shares, compared to its average volume of 2,230,474. The company has a 50-day moving average price of $26.13 and a 200 day moving average price of $26.29. ZIM Integrated Shipping Services Ltd. has a 12-month low of $12.33 and a 12-month high of $30.40. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 25.32 and a beta of 1.18. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.09.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.27). The firm had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $1.79 billion. ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. On average, research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Large investors have recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in ZIM Integrated Shipping Services in the 4th quarter worth about $89,845,000. California State Teachers Retirement System raised its holdings in shares of ZIM Integrated Shipping Services by 2,475.1% in the second quarter. California State Teachers Retirement System now owns 3,270,800 shares of the company's stock worth $85,041,000 after buying an additional 3,143,783 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of ZIM Integrated Shipping Services by 29,305.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company's stock worth $21,088,000 after acquiring an additional 1,306,157 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in ZIM Integrated Shipping Services during the 1st quarter valued at $30,302,000. Finally, Yelin Lapidot Holdings Management Ltd. grew its position in ZIM Integrated Shipping Services by 34.1% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company's stock valued at $68,973,000 after acquiring an additional 825,848 shares during the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZIM has been the topic of a number of research reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. increased their target price on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an "underweight" rating in a research report on Tuesday, June 30th. Zacks Research lowered shares of ZIM Integrated Shipping Services from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Barclays boosted their price target on shares of ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $19.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.