Traders Purchase High Volume of Call Options on ZIM Integrated Shipping Services (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the target of some unusual options trading on Friday. Stock traders acquired 7,332 call options on the stock. This represents an increase of approximately 43% compared to the typical volume of 5,115 call options.

Insiders Place Their Bets

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 20,000 shares of ZIM Integrated Shipping Services stock in a transaction that occurred 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 sale, the executive vice president owned 131,667 shares of the company’s stock, valued at $3,242,958.21. The trade was a 13.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 61,000 shares of company stock worth $1,537,310. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pinnacle Holdings LLC purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter worth about $42,000. NINE MASTS CAPITAL Ltd boosted its position in ZIM Integrated Shipping Services by 14.4% in the 2nd quarter. NINE MASTS CAPITAL Ltd now owns 103,084 shares of the company’s stock valued at $2,680,000 after buying an additional 13,000 shares during the period. Deutsche Bank AG boosted its position in ZIM Integrated Shipping Services by 12.5% in the 2nd quarter. Deutsche Bank AG now owns 8,834 shares of the company’s stock valued at $230,000 after buying an additional 979 shares during the period. Global Retirement Partners LLC bought a new position in ZIM Integrated Shipping Services in the 2nd quarter worth about $1,023,000. Finally, Plan Group Financial LLC grew its stake in ZIM Integrated Shipping Services by 160.5% in the 2nd quarter. Plan Group Financial LLC now owns 27,590 shares of the company’s stock worth $717,000 after acquiring an additional 17,000 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZIM has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. 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. JPMorgan Chase & Co. increased their price objective on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a research report on Tuesday, June 30th. Finally, Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 30th. Two research 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. Based on data from MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and a consensus price target of $19.33.

ZIM Integrated Shipping Services Trading Up 5.0%

Shares of ZIM stock traded up $1.33 on Friday, reaching $28.15. 3,930,277 shares of the company’s stock were exchanged, compared to its average volume of 1,309,873. ZIM Integrated Shipping Services has a 52 week low of $12.33 and a 52 week high of $29.97. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $3.39 billion, a PE ratio of 34.76 and a beta of 1.21. The company’s fifty day simple moving average is $25.20 and its 200 day simple moving average is $25.61.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings data on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, analysts forecast that ZIM Integrated Shipping Services will post 3.15 EPS for the current year.

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.