Saar Dotan Sells 15,000 Shares of ZIM Integrated Shipping Services (NYSE:ZIM) Stock

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

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 value of $492,600.00.

ZIM Integrated Shipping Services Trading Down 0.6%

Shares of ZIM traded down $0.16 during mid-day trading on Wednesday, reaching $25.05. 151,424 shares of the company’s stock traded hands, compared to its average volume of 2,724,357. The stock has a market cap of $3.02 billion, a P/E ratio of 30.93 and a beta of 1.20. The stock’s 50-day moving average is $26.03 and its two-hundred day moving average is $23.73. ZIM Integrated Shipping Services Ltd. has a 12 month low of $12.33 and a 12 month 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.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. Research analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 20th were issued a $0.88 dividend. The ex-dividend date was Friday, March 20th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. This represents a $3.52 dividend on an annualized basis and a dividend yield of 14.1%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 7.41%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently made changes to their positions in ZIM. NewEdge Advisors LLC acquired a new stake in ZIM Integrated Shipping Services during the 1st quarter worth about $286,000. Oddo BHF Asset Management Sas purchased a new position in ZIM Integrated Shipping Services in the 1st quarter valued at about $30,302,000. Amundi purchased a new position in ZIM Integrated Shipping Services in the 1st quarter valued at about $306,000. Polar Asset Management Partners Inc. purchased a new position in ZIM Integrated Shipping Services in the 1st quarter valued at about $790,000. Finally, Rangeley Capital LLC lifted its stake in ZIM Integrated Shipping Services by 34.0% in the 1st quarter. Rangeley Capital LLC now owns 55,000 shares of the company’s stock worth $1,449,000 after purchasing an additional 13,948 shares in the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZIM. Barclays boosted their price target on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an “underweight” rating in a report on Monday, March 16th. Fearnley Fonds upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Weiss Ratings lowered ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Finally, Citigroup upgraded ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and upped their target price for the stock from $11.50 to $31.80 in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.83.

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.