Summit Securities Group LLC Acquires 23,300 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Summit Securities Group LLC boosted its stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 388.3% during the first quarter, Holdings Channel.com reports. The fund owned 29,300 shares of the company’s stock after acquiring an additional 23,300 shares during the period. Summit Securities Group LLC’s holdings in ZIM Integrated Shipping Services were worth $772,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Hoey Investments Inc. bought a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at $25,000. Lodestone Wealth Management LLC bought a new position in ZIM Integrated Shipping Services in the fourth quarter valued at about $29,000. Huntington National Bank raised its stake 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 acquiring an additional 2,000 shares in the last quarter. Quarry LP acquired a new position in ZIM Integrated Shipping Services during the third quarter worth about $34,000. Finally, Leonteq Securities AG bought a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $61,000. 21.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZIM. Barclays lifted their price target on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an “underweight” rating in a report on Tuesday, June 30th. Zacks Research upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. increased their price target on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.33.

ZIM Integrated Shipping Services Stock Down 1.8%

Shares of ZIM Integrated Shipping Services stock opened at $24.15 on Friday. The stock’s 50-day moving average is $25.38 and its 200 day moving average is $24.99. ZIM Integrated Shipping Services Ltd. has a one year low of $12.33 and a one year high of $29.97. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 29.81 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its 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 negative return on equity of 0.26% and a net margin of 1.56%.The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.48 billion. Equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.

Insider Buying and Selling 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 transaction of $287,210.00. Following the transaction, the executive vice president owned 90,667 shares in the company, valued at $2,367,315.37. The trade was a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 61,000 shares of company stock valued at $1,537,310. Insiders own 1.30% of the company’s stock.

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.