Saar Dotan Sells 3,690 Shares of ZIM Integrated Shipping Services (NYSE:ZIM) Stock

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Saar Dotan sold 3,690 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $30.32, for a total transaction of $111,880.80. Following the transaction, the executive vice president directly owned 89,867 shares in the company, valued at $2,724,767.44. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, June 12th, Saar Dotan sold 11,000 shares of ZIM Integrated Shipping Services stock. The shares were sold at an average price of $26.11, for a total transaction of $287,210.00.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM opened at $29.48 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $12.33 and a fifty-two week high of $30.40. The firm has a 50-day simple moving average of $26.29 and a 200-day simple moving average of $26.29. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 25.63 and a beta of 1.18.

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

ZIM Integrated Shipping Services News Summary

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

Several hedge funds and other institutional investors have recently made changes to their positions in ZIM. Pin Oak Investment Advisors Inc. purchased a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter worth about $26,000. Quarry LP acquired a new position in ZIM Integrated Shipping Services during the third quarter worth about $34,000. Huntington National Bank lifted its holdings in shares of ZIM Integrated Shipping Services by 200,000.0% in the fourth quarter. Huntington National Bank now owns 2,001 shares of the company’s stock valued at $42,000 after purchasing an additional 2,000 shares in the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the second quarter valued at approximately $42,000. Finally, Larson Financial Group LLC grew its position in shares of ZIM Integrated Shipping Services by 158.8% in the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock valued at $44,000 after purchasing an additional 1,998 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ZIM. JPMorgan Chase & Co. lifted their price objective on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a research report on Tuesday, June 30th. Zacks Research downgraded shares of ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Barclays raised their target price on shares of 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. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.83.

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.