Saar Dotan Sells 11,000 Shares of ZIM Integrated Shipping Services (NYSE:ZIM) Stock

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Saar Dotan sold 11,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.11, for a total value of $287,210.00. Following the sale, the executive vice president directly owned 90,667 shares of the company’s stock, valued at approximately $2,367,315.37. This represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Saar Dotan also recently made the following trade(s):

• On Thursday, June 4th, Saar Dotan sold 15,000 shares of ZIM Integrated Shipping Services stock. The stock was sold at an average price of $25.41, for a total transaction of $381,150.00.
• On Tuesday, June 2nd, Saar Dotan sold 15,000 shares of ZIM Integrated Shipping Services stock. The shares were sold at an average price of $25.09, for a total transaction of $376,350.00.
• On Monday, June 1st, Saar Dotan sold 20,000 shares of ZIM Integrated Shipping Services stock. The stock was sold at an average price of $24.63, for a total transaction of $492,600.00.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM stock opened at $26.20 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.19. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 32.34 and a beta of 1.21. ZIM Integrated Shipping Services Ltd. has a 52 week low of $12.33 and a 52 week high of $29.97. The firm’s 50-day simple moving average is $25.91 and its two-hundred day simple moving average is $24.29.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share 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 company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities analysts forecast that ZIM Integrated Shipping Services Ltd. will post -7.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Hoey Investments Inc. bought a new stake in ZIM Integrated Shipping Services during the 4th quarter valued at $25,000. Lodestone Wealth Management LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth $29,000. Huntington National Bank boosted its holdings 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. Assetmark Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the first quarter valued at $59,000. Finally, Quarry LP purchased a new position in shares of ZIM Integrated Shipping Services in the third quarter valued at $34,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on ZIM shares. Citigroup raised ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and raised their target price for the stock from $11.50 to $31.80 in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Barclays lifted their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the stock an “underweight” rating in a report on Monday, March 16th. Finally, Fearnley Fonds upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.83.

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.