Insider Selling: ZIM Integrated Shipping Services (NYSE:ZIM) CEO Sells $7,174,116.62 in Stock

Key Points

• CEO Eli Glickman sold 254,221 ZIM shares at an average price of $28.22, generating $7.17 million and reducing his ownership by 52.13% to 233,473 shares.
• ZIM shares rose 1.1% to $28.57, near their 12-month high of $29.97. The company recently reported quarterly EPS of $0.53, below the $0.80 analyst consensus, while revenue of $1.78 billion was close to expectations.
• Analysts maintain a broadly cautious outlook, with an average “Hold” rating and a $19.33 price target, despite Zacks Research upgrading the stock to “Strong Buy.” Institutional investors own 21.42% of the company.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) CEO Eli Glickman sold 254,221 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $28.22, for a total transaction of $7,174,116.62. Following the completion of the sale, the chief executive officer owned 233,473 shares in the company, valued at approximately $6,588,608.06. This trade represents a 52.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

ZIM Integrated Shipping Services Trading Up 1.1%

ZIM Integrated Shipping Services stock traded up $0.32 during midday trading on Monday, reaching $28.57. 917,098 shares of the stock traded hands, compared to its average volume of 2,285,614. 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 has a market cap of $3.44 billion, a PE ratio of 24.84 and a beta of 1.21. The company has a 50-day simple moving average of $25.43 and a two-hundred day simple moving average of $25.81.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.27). The company had revenue of $1.78 billion during 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%. Research analysts expect that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZIM. JPMorgan Chase & Co. raised 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 note on Tuesday, June 30th. Weiss Ratings restated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Barclays upped their target price on 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. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of "Hold" and an average price target of $19.33.

Institutional Trading of ZIM Integrated Shipping Services

Several hedge funds have recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. acquired a new stake in ZIM Integrated Shipping Services in the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in shares of ZIM Integrated Shipping Services in the third quarter worth $34,000. Huntington National Bank raised its holdings in shares of ZIM Integrated Shipping Services by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the company's stock worth $42,000 after acquiring an additional 2,000 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the second quarter worth $42,000. Finally, Larson Financial Group LLC boosted its position in ZIM Integrated Shipping Services by 158.8% during the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company's stock valued at $44,000 after purchasing an additional 1,998 shares during the last quarter. Institutional investors own 21.42% 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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