Weiss Asset Management LP Makes New Investment in ZIM Integrated Shipping Services Ltd. $ZIM

Weiss Asset Management LP purchased a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 276,411 shares of the company’s stock, valued at approximately $7,283,000.

Other large investors have also made changes to their positions in the company. Hoey Investments Inc. bought a new stake in ZIM Integrated Shipping Services during the 4th quarter valued at approximately $25,000. Lodestone Wealth Management LLC purchased a new position in ZIM Integrated Shipping Services in the 4th quarter worth approximately $29,000. Huntington National Bank boosted its stake in ZIM Integrated Shipping Services by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the company’s stock worth $42,000 after purchasing an additional 2,000 shares during the period. Assetmark Inc. bought a new position in ZIM Integrated Shipping Services in the 1st quarter worth approximately $59,000. Finally, Quarry LP purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $34,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZIM. Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. JPMorgan Chase & Co. upped their target price on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a research report on Tuesday, June 30th. 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. Finally, Barclays lifted their price target on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an “underweight” rating in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.33.

Insider Activity

In other news, EVP Saar Dotan sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.11, for a total value of $287,210.00. Following the completion of the sale, the executive vice president directly owned 90,667 shares of the company’s stock, valued at $2,367,315.37. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 61,000 shares of company stock valued at $1,537,310. 1.30% of the stock is owned by company insiders.

ZIM Integrated Shipping Services Stock Down 2.7%

Shares of NYSE ZIM opened at $24.89 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. ZIM Integrated Shipping Services Ltd. has a 12-month low of $12.33 and a 12-month high of $29.97. The firm’s 50-day moving average price is $24.98 and its 200-day moving average price is $25.23. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 30.73 and a beta of 1.19.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%.The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

ZIM Integrated Shipping Services 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.