Oak Grove Capital LLC Buys 24,000 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Oak Grove Capital LLC purchased a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 24,000 shares of the company’s stock, valued at approximately $704,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZIM. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $89,845,000. Meitav Investment House Ltd. boosted its stake in ZIM Integrated Shipping Services by 13.7% during the 1st quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company’s stock valued at $102,934,000 after purchasing an additional 472,092 shares during the period. Yelin Lapidot Holdings Management Ltd. boosted its stake in ZIM Integrated Shipping Services by 1.2% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company’s stock valued at $86,028,000 after purchasing an additional 40,000 shares during the period. Renaissance Technologies LLC grew its holdings in ZIM Integrated Shipping Services by 2.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,936,288 shares of the company’s stock valued at $77,371,000 after buying an additional 58,603 shares during the last quarter. Finally, State Street Corp increased its position in ZIM Integrated Shipping Services by 2.9% in the 2nd quarter. State Street Corp now owns 1,485,508 shares of the company’s stock worth $38,623,000 after buying an additional 41,735 shares during the period. 21.42% of the stock is owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE:ZIM opened at $29.96 on Friday. ZIM Integrated Shipping Services Ltd. has a 1-year low of $12.33 and a 1-year high of $30.96. The firm has a market capitalization of $3.61 billion, a PE ratio of 26.06 and a beta of 1.22. The business’s 50 day moving average is $28.44 and its 200-day moving average is $26.54. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09.

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 analysts’ consensus estimates of $0.80 by ($0.27). The firm had revenue of $1.78 billion for 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%. Sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

ZIM has been the topic of several research analyst reports. Zacks Research downgraded shares of ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. increased 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. Weiss Ratings upgraded shares of ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Barclays set a $30.00 price objective on shares of ZIM Integrated Shipping Services and gave the stock an “equal weight” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ZIM Integrated Shipping Services has an average rating of “Hold” and a consensus price target of $21.50.

Insider Transactions at ZIM Integrated Shipping Services

In other news, Director Birger Meyer-Gloeckner sold 1,531 shares of ZIM Integrated Shipping Services stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $28.50, for a total transaction of $43,633.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Saar Dotan sold 26,544 shares of ZIM Integrated Shipping Services stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $29.85, for a total transaction of $792,338.40. Following the sale, the executive vice president owned 67,200 shares in the company, valued at approximately $2,005,920. This trade represents a 28.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 320,122 shares of company stock worth $9,114,905. 1.30% of the stock is currently owned by company insiders.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container liner company headquartered in Haifa, Israel. Founded in 1945, ZIM provides maritime transportation services for importers, exporters, manufacturers and other businesses that move goods internationally.

The company operates a network of container shipping routes connecting major trade lanes and ports across Asia, Europe, the Mediterranean, North America, Latin America and other regions. Its services include the transportation of dry and refrigerated containers, specialized cargo, and vehicles, supported by cargo handling, documentation and related logistics services.

ZIM also offers digital tools and logistics solutions designed to help customers manage shipments, track cargo and coordinate international supply chains.