Insider Selling: ZIM Integrated Shipping Services (NYSE:ZIM) Director Sells 1,531 Shares of Stock

Key Points

• ZIM director Birger Johanne Meyer-Gloeckner sold 1,531 shares at an average price of $28.50, generating proceeds of approximately $43,634.
• ZIM reported quarterly EPS of $0.53, below the $0.80 analyst consensus, while revenue of $1.78 billion was slightly below expectations.
• Analysts maintain a consensus “Hold” rating with an average price target of $19.83, well below the stock’s recent price near $28.59; institutional investors own 21.42% of the shares.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) Director Birger Johanne Meyer-Gloeckner sold 1,531 shares of the firm's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $28.50, for a total value of $43,633.50. The sale was disclosed in a legal filing with the SEC, which is available through this link.

ZIM Integrated Shipping Services Trading Up 0.0%

Shares of NYSE ZIM opened at $28.59 on Tuesday. ZIM Integrated Shipping Services Ltd. has a 1 year low of $12.33 and a 1 year high of $29.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.24 and a quick ratio of 1.15. The firm has a 50-day moving average of $26.05 and a 200 day moving average of $26.28. The stock has a market cap of $3.45 billion, a P/E ratio of 24.86 and a beta of 1.18.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its earnings results on Thursday, August 20th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.27). ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. The business had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $1.79 billion. As a group, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays increased their price target on shares of ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the company an "underweight" rating in a report on Thursday, August 27th. Zacks Research downgraded shares of ZIM Integrated Shipping Services from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Weiss Ratings restated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. raised 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. 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. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $19.83.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently modified their holdings of ZIM. Goldman Sachs Group Inc. lifted its position in ZIM Integrated Shipping Services by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock valued at $68,879,000 after purchasing an additional 788,514 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $89,845,000. Meitav Investment House Ltd. raised its stake in shares of ZIM Integrated Shipping Services by 13.7% in the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company's stock worth $102,934,000 after buying an additional 472,092 shares during the period. Yelin Lapidot Holdings Management Ltd. lifted its position in shares of ZIM Integrated Shipping Services by 1.2% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company's stock valued at $86,028,000 after buying an additional 40,000 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of ZIM Integrated Shipping Services by 2,475.1% during the 2nd quarter. California State Teachers Retirement System now owns 3,270,800 shares of the company's stock valued at $85,041,000 after buying an additional 3,143,783 shares in the last quarter. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

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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