Meitav Investment House Ltd. Raises Stock Holdings in ZIM Integrated Shipping Services Ltd. $ZIM

Meitav Investment House Ltd. raised its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,906,396 shares of the company’s stock after buying an additional 472,092 shares during the quarter. ZIM Integrated Shipping Services comprises about 1.1% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 24th largest holding. Meitav Investment House Ltd.’s holdings in ZIM Integrated Shipping Services were worth $102,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Yelin Lapidot Holdings Management Ltd. boosted its position in shares of ZIM Integrated Shipping Services by 0.6% in the 1st quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,268,773 shares of the company’s stock worth $86,132,000 after purchasing an additional 19,939 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in ZIM Integrated Shipping Services in the 1st quarter worth approximately $201,000. Pictet Asset Management Holding SA boosted its stake in ZIM Integrated Shipping Services by 2.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 22,528 shares of the company’s stock worth $594,000 after purchasing an additional 497 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in ZIM Integrated Shipping Services during the 1st quarter worth approximately $537,000. Finally, Cidel Asset Management Inc. purchased a new stake in ZIM Integrated Shipping Services during the 1st quarter worth approximately $326,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. JPMorgan Chase & Co. boosted 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 report on Tuesday, June 30th. Barclays upped their target price on 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, Zacks Research upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and a consensus target price of $19.33.

Insider Activity

In related news, EVP Saar Dotan sold 20,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $24.63, for a total transaction of $492,600.00. Following the completion of the transaction, the executive vice president owned 131,667 shares of the company’s stock, valued at $3,242,958.21. This trade represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 61,000 shares of company stock worth $1,537,310 over the last three months. Company insiders own 1.30% of the company’s stock.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM traded up $0.36 during midday trading on Tuesday, hitting $24.07. The company’s stock had a trading volume of 696,832 shares, compared to its average volume of 2,461,942. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $12.33 and a fifty-two week high of $29.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. The firm has a market cap of $2.90 billion, a P/E ratio of 29.74 and a beta of 1.19. The firm’s 50 day moving average is $25.48 and its 200-day moving average is $24.88.

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

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.