31,700 Shares in ZIM Integrated Shipping Services Ltd. $ZIM Bought by Gabelli Funds LLC

Gabelli Funds LLC bought a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 31,700 shares of the company’s stock, valued at approximately $835,000.

Several other hedge funds also recently added to or reduced their stakes in ZIM. Royal Bank of Canada raised its stake 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 buying an additional 3,102 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the first quarter worth about $210,000. Goldman Sachs Group Inc. boosted its stake in shares of ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock worth $68,879,000 after buying an additional 788,514 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 worth $1,915,000 after acquiring an additional 6,342 shares during the period. Finally, Russell Investments Group Ltd. grew 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 worth $1,236,000 after acquiring an additional 64,057 shares during the period. 21.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ZIM Integrated Shipping Services

In related news, EVP Saar Dotan sold 11,000 shares of the business’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 completion of the sale, the executive vice president owned 90,667 shares of the company’s stock, valued at approximately $2,367,315.37. The trade was a 10.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 61,000 shares of company stock valued at $1,537,310. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZIM. Zacks Research upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Barclays upped their price objective on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. lifted their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Hold” and an average price target of $19.33.

ZIM Integrated Shipping Services Stock Up 0.4%

Shares of ZIM opened at $24.69 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 stock’s 50 day moving average is $24.90 and its two-hundred day moving average is $25.32. The firm has a market cap of $2.98 billion, a P/E ratio of 30.48 and a beta of 1.19.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share 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 business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.48 billion. Analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share 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.