Mangrove Partners IM LLC Takes Position in ZIM Integrated Shipping Services Ltd. $ZIM

Mangrove Partners IM LLC purchased a new stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,719 shares of the company’s stock, valued at approximately $567,000.

Other hedge funds have also added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter valued at about $25,000. Lodestone Wealth Management LLC bought a new position in ZIM Integrated Shipping Services during the fourth quarter worth about $29,000. Quarry LP bought a new position in ZIM Integrated Shipping Services during the third quarter worth about $34,000. Huntington National Bank grew its holdings 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 purchasing an additional 2,000 shares during the period. Finally, Triumph Capital Management bought a new position in ZIM Integrated Shipping Services during the third quarter worth about $44,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $24.44 on Wednesday. The stock has a market capitalization of $2.94 billion, a PE ratio of 30.17 and a beta of 1.20. The company’s 50-day moving average is $25.84 and its 200-day moving average is $24.36. 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 Ltd. has a 1 year low of $12.33 and a 1 year high of $29.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted 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 analyst estimates of $1.48 billion. Equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post -7.24 EPS for the current fiscal year.

Insider Activity

In other news, EVP Saar Dotan sold 11,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 90,667 shares in the company, valued at $2,367,315.37. This trade represents a 10.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 61,000 shares of company stock worth $1,537,310. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZIM. Barclays boosted their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the stock an “underweight” rating in a report on Monday, March 16th. Fearnley Fonds upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Citigroup upgraded ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and increased their target price for the company from $11.50 to $31.80 in a research report on Thursday, February 19th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.