Arik Elimelech Sells 458 Shares of ZIM Integrated Shipping Services (NYSE:ZIM) Stock

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Arik Elimelech sold 458 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $29.99, for a total transaction of $13,735.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ZIM Integrated Shipping Services Stock Performance

ZIM opened at $29.48 on Friday. The company’s 50 day moving average is $26.29 and its 200 day moving average is $26.29. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 25.63 and a beta of 1.18. ZIM Integrated Shipping Services Ltd. has a 12-month low of $12.33 and a 12-month high of $30.40.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, August 20th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.27). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. On average, equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.

More ZIM Integrated Shipping Services News

Here are the key news stories impacting ZIM Integrated Shipping Services this week:

• Positive Sentiment: Hapag-Lloyd working to preserve the deal: Hapag-Lloyd and investment firm FIMI are reportedly developing stronger safeguards for ZIM’s Israeli operations after discussions with Israeli officials. The measures could help address approval concerns and improve the likelihood of completing the proposed $35-per-share acquisition. Can New Safeguards Preserve ZIM’s $4.2B Sale?
• Positive Sentiment: Cash takeover supports the stock: The proposed transaction values ZIM’s equity at approximately $4.2 billion and offers shareholders a premium to the pre-deal valuation. The spread between the market price and the offer price reflects both potential upside and the risk that the transaction could be delayed, revised or rejected. ZIM Safeguards and $4.2B Sale
• Neutral Sentiment: Analyst ratings are less relevant after the takeover announcement: ZIM has a consensus “Hold” rating, with one Strong Buy, five Holds and two Sells and an average target price of $19.83. Those targets appear to largely reflect the company as a standalone business and may not incorporate the proposed acquisition. ZIM Receives Consensus Hold Rating
• Negative Sentiment: Insiders reported several sales: Executives Sami Jubran, Saar Dotan, Assaf Tiran and Arik Elimelech, along with director Birger Johanne Meyer-Gloeckner, sold shares recently. The transactions were relatively small, but clustered insider selling near the proposed offer price could weigh on sentiment. ZIM Insider Selling

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZIM. Pin Oak Investment Advisors Inc. purchased a new stake in ZIM Integrated Shipping Services in the 2nd quarter worth $26,000. Quarry LP purchased a new position in shares of ZIM Integrated Shipping Services in the third quarter valued at about $34,000. Huntington National Bank boosted its stake in shares of ZIM Integrated Shipping Services by 200,000.0% in 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 during the period. Pinnacle Holdings LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the second quarter worth about $42,000. Finally, Larson Financial Group LLC raised 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 period. Institutional investors own 21.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZIM. Zacks Research downgraded ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Barclays raised their price objective on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.83.

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.