Traders Purchase High Volume of ZIM Integrated Shipping Services Put Options (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the recipient of some unusual options trading on Thursday. Stock investors bought 15,438 put options on the company. This represents an increase of approximately 233% compared to the typical daily volume of 4,641 put options.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE ZIM traded down $0.01 during midday trading on Thursday, reaching $24.57. 341,494 shares of the stock were exchanged, compared to its average volume of 2,272,268. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 30.35 and a beta of 1.19. ZIM Integrated Shipping Services has a twelve month low of $12.33 and a twelve month high of $29.97. The firm has a 50-day simple moving average of $24.91 and a two-hundred day simple moving average of $25.30. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.14.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts anticipate that ZIM Integrated Shipping Services will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZIM. Zacks Research upgraded shares of 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. JPMorgan Chase & Co. upped their price target 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. Finally, Barclays increased their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, ZIM Integrated Shipping Services has a consensus rating of “Hold” and a consensus price target of $19.33.

Insiders Place Their Bets

In related news, EVP Saar Dotan sold 20,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were 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 in the company, valued at approximately $3,242,958.21. This represents a 13.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In 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 corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arista Wealth Management LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the 2nd quarter worth about $208,000. LifeGoal Investments LLC acquired a new position in ZIM Integrated Shipping Services in the 2nd quarter worth about $261,000. NewEdge Advisors LLC acquired a new position in ZIM Integrated Shipping Services in the 1st quarter worth about $286,000. Oddo BHF Asset Management Sas purchased a new position in ZIM Integrated Shipping Services during the first quarter worth approximately $30,302,000. Finally, Amundi purchased a new position in ZIM Integrated Shipping Services during the first quarter worth approximately $306,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

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.