Insider Selling: ZIM Integrated Shipping Services (NYSE:ZIM) EVP Sells $376,350.00 in Stock

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Saar Dotan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $25.09, for a total transaction of $376,350.00. Following the completion of the sale, the executive vice president owned 116,667 shares in the company, valued at $2,927,175.03. This represents a 11.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Saar Dotan also recently made the following trade(s):

• On Monday, June 1st, Saar Dotan sold 20,000 shares of ZIM Integrated Shipping Services stock. The shares were sold at an average price of $24.63, for a total transaction of $492,600.00.

ZIM Integrated Shipping Services Stock Down 1.1%

NYSE:ZIM opened at $25.17 on Friday. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $12.33 and a fifty-two week high of $29.97. The stock has a market capitalization of $3.03 billion, a P/E ratio of 31.07 and a beta of 1.20. 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 company’s 50-day simple moving average is $25.95 and its 200-day simple moving average is $23.93.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.48 billion. On average, equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post -7.24 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 20th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 14.0%. The ex-dividend date of this dividend was Friday, March 20th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. ZIM Integrated Shipping Services’s payout ratio is 7.41%.

Analyst Upgrades and Downgrades

ZIM has been the subject of several research analyst reports. Citigroup raised shares of ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and increased their price objective for the company from $11.50 to $31.80 in a research report on Thursday, February 19th. Fearnley Fonds raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Barclays increased their price objective on shares of ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an “underweight” rating in a research report on Monday, March 16th. Finally, Weiss Ratings lowered shares of ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a research report on Tuesday, March 10th. One investment analyst has 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.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and an average price target of $17.83.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently bought and sold shares of ZIM. Royal Bank of Canada raised its position in 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 worth $596,000 after buying an additional 3,102 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the 1st quarter worth approximately $210,000. Goldman Sachs Group Inc. grew its stake in shares of ZIM Integrated Shipping Services by 20.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock worth $68,879,000 after purchasing an additional 788,514 shares during the period. Geode Capital Management LLC grew its stake in shares of ZIM Integrated Shipping Services by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock worth $1,915,000 after purchasing an additional 6,342 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of ZIM Integrated Shipping Services by 505.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock worth $1,236,000 after purchasing an additional 64,057 shares during the period. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.