Insider Selling: ZIM Integrated Shipping Services (NYSE:ZIM) EVP Sells $114,280.00 in Stock

Key Points

• ZIM EVP Eyal Ben-Amram sold 4,000 shares at an average price of $28.57, generating $114,280 and reducing his ownership by 38.15% to 6,486 shares.
• ZIM shares opened at $28.11, near their 12-month high of $29.97, but the company’s latest quarterly results missed expectations: EPS was $0.53 versus an $0.80 consensus estimate, while revenue was $1.78 billion.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $19.33 price target; institutional investors own 21.42% of the company.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) EVP Eyal Ben-Amram sold 4,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $28.57, for a total transaction of $114,280.00. Following the completion of the sale, the executive vice president owned 6,486 shares in the company, valued at approximately $185,305.02. This trade represents a 38.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

ZIM Integrated Shipping Services Stock Down 1.0%

Shares of NYSE ZIM opened at $28.11 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. ZIM Integrated Shipping Services Ltd. has a 12-month low of $12.33 and a 12-month high of $29.97. The firm's 50-day moving average price is $25.58 and its 200-day moving average price is $25.91. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 24.44 and a beta of 1.21.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.27). ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%.The company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.79 billion. On average, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of ZIM Integrated Shipping Services by 8.2% during the first quarter. Royal Bank of Canada now owns 40,827 shares of the company's stock valued at $596,000 after buying an additional 3,102 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the first quarter worth approximately $210,000. Goldman Sachs Group Inc. raised its holdings in shares of ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock worth $68,879,000 after buying an additional 788,514 shares during the period. Geode Capital Management LLC lifted its stake in shares of ZIM Integrated Shipping Services by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 119,218 shares of the company's stock worth $1,915,000 after acquiring an additional 6,342 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of ZIM Integrated Shipping Services by 505.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company's stock worth $1,236,000 after acquiring an additional 64,057 shares during the last quarter. Institutional investors own 21.42% of the company's stock.

Analyst Upgrades and Downgrades

ZIM has been the topic of several analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. 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 report on Tuesday, June 30th. Zacks Research raised shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 2nd. Finally, Barclays boosted their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $19.33.

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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