ZIM Integrated Shipping Services Sees Unusually High Options Volume (NYSE:ZIM)

Key Points

• Put-option activity surged: Investors purchased 15,438 put options, 233% above the average volume of 4,641, signaling unusually high bearish or hedging interest in ZIM.
• ZIM shares edged down 0.1% to $24.57, while the company’s latest quarterly results missed expectations, reporting a loss of $0.72 per share versus the $0.22 expected and revenue of $1.40 billion versus $1.48 billion anticipated.
• Analyst sentiment remains mixed: The stock carries an average “Hold” rating with a $19.33 target price, while insiders have sold 61,000 shares worth approximately $1.54 million over the past 90 days.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) saw unusually large options trading activity on Thursday. Stock investors purchased 15,438 put options on the stock. This represents an increase of 233% compared to the average volume of 4,641 put options.

ZIM Integrated Shipping Services Stock Down 0.1%

ZIM Integrated Shipping Services stock traded down $0.01 during midday trading on Thursday, reaching $24.57. The company's stock had a trading volume of 341,494 shares, compared to its average volume of 2,272,268. The stock's 50-day simple moving average is $24.91 and its 200-day simple moving average is $25.30. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. ZIM Integrated Shipping Services has a 52-week low of $12.33 and a 52-week high of $29.97. The stock has a market capitalization of $2.96 billion, a P/E ratio of 30.35 and a beta of 1.19.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%.The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.48 billion. On average, sell-side analysts expect that ZIM Integrated Shipping Services will post 3.15 EPS for the current year.

Insider Activity

In other news, EVP Saar Dotan sold 20,000 shares of ZIM Integrated Shipping Services stock in a transaction on Monday, June 1st. The stock was sold at an average price of $24.63, for a total value of $492,600.00. Following the transaction, the executive vice president directly owned 131,667 shares in the company, valued at approximately $3,242,958.21. This trade represents a 13.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 61,000 shares of company stock worth $1,537,310 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Hoey Investments Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth $25,000. Lodestone Wealth Management LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at $29,000. Quarry LP acquired a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at $34,000. Huntington National Bank raised its stake in 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 worth $42,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in ZIM Integrated Shipping Services by 158.8% during the 3rd 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 and hedge funds own 21.42% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ZIM. JPMorgan Chase & Co. boosted 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 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 report on Thursday, July 2nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Finally, Barclays increased 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 report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of "Hold" and an average target price of $19.33.

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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