ZIM Integrated Shipping Services (NYSE:ZIM) EVP Sami Jubran Sells 3,020 Shares of Stock

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Sami Jubran sold 3,020 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $29.91, for a total transaction of $90,328.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

ZIM Integrated Shipping Services Trading Up 0.3%

NYSE:ZIM opened at $29.48 on Friday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 25.63 and a beta of 1.18. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average price is $26.29 and its 200-day moving average price is $26.29. ZIM Integrated Shipping Services Ltd. has a 52 week low of $12.33 and a 52 week high of $30.40.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Thursday, August 20th. The company reported $0.53 earnings per share (EPS) 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 net margin of 2.15% and a return on equity of 1.11%. On average, equities research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current fiscal year.

Key Stories Impacting ZIM Integrated Shipping Services

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

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of ZIM Integrated Shipping Services by 8.2% during the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock valued at $596,000 after purchasing an additional 3,102 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services in the first quarter worth approximately $210,000. Goldman Sachs Group Inc. grew its position in 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 valued at $68,879,000 after buying an additional 788,514 shares during the period. Geode Capital Management LLC grew its position in ZIM Integrated Shipping Services by 5.6% during the second quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock valued at $1,915,000 after buying an additional 6,342 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in ZIM Integrated Shipping Services by 505.1% during the second quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock valued at $1,236,000 after buying an additional 64,057 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.