Sei Investments Co. Makes New $769,000 Investment in ZIM Integrated Shipping Services Ltd. $ZIM

Sei Investments Co. bought a new stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 29,190 shares of the company’s stock, valued at approximately $769,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hoey Investments Inc. acquired a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter worth approximately $25,000. Quarry LP purchased a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at approximately $34,000. Huntington National Bank raised 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 last quarter. Larson Financial Group LLC raised its holdings in ZIM Integrated Shipping Services by 158.8% during the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock worth $44,000 after purchasing an additional 1,998 shares during the last quarter. Finally, Triumph Capital Management purchased a new stake in ZIM Integrated Shipping Services during the third quarter worth $44,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ZIM Integrated Shipping Services

In other news, EVP Saar Dotan sold 20,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $24.63, for a total value of $492,600.00. Following the sale, the executive vice president directly owned 131,667 shares in the company, valued at $3,242,958.21. This represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 61,000 shares of company stock valued at $1,537,310 over the last ninety days. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZIM. JPMorgan Chase & Co. upped their target price on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a report on Tuesday, June 30th. Zacks Research raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Finally, Barclays increased their price objective on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an “underweight” rating in a research note on Tuesday, June 30th. Two 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.33.

ZIM Integrated Shipping Services Trading Up 6.4%

Shares of ZIM opened at $26.89 on Friday. 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. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 33.19 and a beta of 1.21. The firm has a 50 day simple moving average of $25.14 and a 200-day simple moving average of $25.59.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations 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 forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

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.