Polar Asset Management Partners Inc. Buys Shares of 30,000 ZIM Integrated Shipping Services Ltd. $ZIM

Polar Asset Management Partners Inc. purchased a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $790,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hoey Investments Inc. bought a new stake in ZIM Integrated Shipping Services during the 4th quarter worth approximately $25,000. Lodestone Wealth Management LLC purchased a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $29,000. Quarry LP bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $34,000. Huntington National Bank boosted its holdings 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 valued at $42,000 after purchasing an additional 2,000 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of 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 in the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Saar Dotan sold 20,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $24.63, for a total value of $492,600.00. Following the transaction, the executive vice president owned 131,667 shares of the company’s stock, valued at $3,242,958.21. This represents a 13.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 61,000 shares of company stock valued at $1,537,310 over the last quarter. 1.30% of the stock is owned by corporate insiders.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $24.59 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. ZIM Integrated Shipping Services Ltd. has a one year low of $12.33 and a one year high of $29.97. The stock has a market cap of $2.96 billion, a PE ratio of 30.36 and a beta of 1.19. The firm has a 50 day simple moving average of $24.95 and a two-hundred day simple moving average of $25.27.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.48 billion. On average, analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZIM. JPMorgan Chase & Co. upped their price target on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a report on Tuesday, June 30th. Zacks Research raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Finally, Barclays upped their target price on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.33.

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.