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

Gabelli Funds LLC acquired a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the 1st quarter, HoldingsChannel reports. The firm acquired 31,700 shares of the company’s stock, valued at approximately $835,000.

A number of other hedge funds have also made changes to their positions in ZIM. Pictet Asset Management Holding SA lifted its position in shares of ZIM Integrated Shipping Services by 2.3% in the first quarter. Pictet Asset Management Holding SA now owns 22,528 shares of the company’s stock valued at $594,000 after acquiring an additional 497 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of ZIM Integrated Shipping Services by 4.7% in the third quarter. Lazard Asset Management LLC now owns 14,308 shares of the company’s stock worth $194,000 after acquiring an additional 638 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in shares of ZIM Integrated Shipping Services by 2.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 24,219 shares of the company’s stock worth $514,000 after purchasing an additional 689 shares in the last quarter. HUB Investment Partners LLC increased its position in shares of ZIM Integrated Shipping Services by 6.4% during the second quarter. HUB Investment Partners LLC now owns 11,920 shares of the company’s stock worth $192,000 after purchasing an additional 722 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of ZIM Integrated Shipping Services by 0.8% during the first quarter. Public Employees Retirement System of Ohio now owns 129,800 shares of the company’s stock worth $3,420,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $24.69 on Friday. 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 stock’s fifty day moving average is $24.90 and its two-hundred day moving average is $25.32. The firm has a market capitalization of $2.98 billion, a P/E ratio of 30.48 and a beta of 1.19. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $12.33 and a fifty-two week high of $29.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share (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 analyst estimates of $1.48 billion. On average, research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Insider Buying and Selling at ZIM Integrated Shipping Services

In related news, EVP Saar Dotan sold 20,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $24.63, for a total value of $492,600.00. Following the completion of the sale, the executive vice president owned 131,667 shares of the company’s stock, valued at approximately $3,242,958.21. This represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 61,000 shares of company stock worth $1,537,310. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Zacks Research upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. 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 report on Tuesday, June 30th. Barclays increased their target price on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an “underweight” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and an average price target 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.