Summit Securities Group LLC Raises Stake in ZIM Integrated Shipping Services Ltd. $ZIM

Summit Securities Group LLC boosted its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 388.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,300 shares of the company’s stock after purchasing an additional 23,300 shares during the period. Summit Securities Group LLC’s holdings in ZIM Integrated Shipping Services were worth $772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of ZIM Integrated Shipping Services during the fourth quarter worth $89,845,000. Y.D. More Investments Ltd boosted its holdings in ZIM Integrated Shipping Services by 378,174.5% in the fourth quarter. Y.D. More Investments Ltd now owns 3,782,745 shares of the company’s stock valued at $80,308,000 after purchasing an additional 3,781,745 shares during the last quarter. BNP Paribas Financial Markets grew its stake in 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 valued at $21,088,000 after purchasing an additional 1,306,157 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. increased its holdings in ZIM Integrated Shipping Services by 34.1% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company’s stock worth $68,973,000 after purchasing an additional 825,848 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of 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 worth $68,879,000 after buying an additional 788,514 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ZIM shares. Barclays increased their target price on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a report on Tuesday, June 30th. Zacks Research upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. raised their target price 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, ZIM Integrated Shipping Services presently has an average rating of “Hold” and an average price target of $19.33.

ZIM Integrated Shipping Services Trading Down 1.8%

ZIM stock opened at $24.15 on Friday. The business’s 50 day moving average is $25.38 and its 200-day moving average is $24.99. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. ZIM Integrated Shipping Services Ltd. has a 1-year low of $12.33 and a 1-year high of $29.97. The firm has a market cap of $2.91 billion, a P/E ratio of 29.81 and a beta of 1.19.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.48 billion. Equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current fiscal year.

Insider Activity

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $24.63, for a total transaction of $492,600.00. Following the transaction, the executive vice president owned 131,667 shares in the company, valued at approximately $3,242,958.21. This trade represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 61,000 shares of company stock valued at $1,537,310. 1.30% of the stock is owned by company insiders.

ZIM Integrated Shipping Services 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.