Assaf Tiran Sells 2,312 Shares of ZIM Integrated Shipping Services (NYSE:ZIM) Stock

by · The Markets Daily

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Free Report) EVP Assaf Tiran sold 2,312 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $30.21, for a total value of $69,845.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ZIM Integrated Shipping Services Trading Up 0.3%

ZIM opened at $29.48 on Friday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 25.63 and a beta of 1.18. ZIM Integrated Shipping Services Ltd. has a 52 week low of $12.33 and a 52 week high of $30.40. The business’s 50 day moving average is $26.29 and its two-hundred day moving average is $26.29. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.09.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. On average, research analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on ZIM shares. Zacks Research cut ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Barclays upped their price target on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, August 27th. Weiss Ratings reissued a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. upped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.83.

Get Our Latest Report on ZIM Integrated Shipping Services

More ZIM Integrated Shipping Services News

Here are the key news stories impacting ZIM Integrated Shipping Services this week:

  • Positive Sentiment: Hapag-Lloyd working to preserve the deal: Hapag-Lloyd and investment firm FIMI are reportedly developing stronger safeguards for ZIM’s Israeli operations after discussions with Israeli officials. The measures could help address approval concerns and improve the likelihood of completing the proposed $35-per-share acquisition. Can New Safeguards Preserve ZIM’s $4.2B Sale?
  • Positive Sentiment: Cash takeover supports the stock: The proposed transaction values ZIM’s equity at approximately $4.2 billion and offers shareholders a premium to the pre-deal valuation. The spread between the market price and the offer price reflects both potential upside and the risk that the transaction could be delayed, revised or rejected. ZIM Safeguards and $4.2B Sale
  • Neutral Sentiment: Analyst ratings are less relevant after the takeover announcement: ZIM has a consensus “Hold” rating, with one Strong Buy, five Holds and two Sells and an average target price of $19.83. Those targets appear to largely reflect the company as a standalone business and may not incorporate the proposed acquisition. ZIM Receives Consensus Hold Rating
  • Negative Sentiment: Insiders reported several sales: Executives Sami Jubran, Saar Dotan, Assaf Tiran and Arik Elimelech, along with director Birger Johanne Meyer-Gloeckner, sold shares recently. The transactions were relatively small, but clustered insider selling near the proposed offer price could weigh on sentiment. ZIM Insider Selling

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. acquired a new position in shares of ZIM Integrated Shipping Services during the 2nd quarter worth $26,000. Pinnacle Holdings LLC purchased a new stake in ZIM Integrated Shipping Services during the second quarter worth about $42,000. Huntington National Bank grew its position in ZIM Integrated Shipping Services by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the company’s stock worth $42,000 after buying an additional 2,000 shares during the period. Assetmark Inc. purchased a new position in ZIM Integrated Shipping Services in the first quarter valued at about $59,000. Finally, Quarry LP acquired a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

(Get Free Report)

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.

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