Hsbc Holdings PLC Buys Shares of 622,140 ZIM Integrated Shipping Services Ltd. $ZIM

Hsbc Holdings PLC purchased a new stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the first quarter, Holdings Channel.com reports. The firm purchased 622,140 shares of the company’s stock, valued at approximately $16,409,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hoey Investments Inc. bought a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth $25,000. Lodestone Wealth Management LLC bought a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at about $29,000. Quarry LP bought a new stake in ZIM Integrated Shipping Services during the third quarter valued at about $34,000. Huntington National Bank grew its stake in 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 during the last quarter. Finally, Larson Financial Group LLC grew its stake in 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. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZIM. Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. JPMorgan Chase & Co. raised their price target 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. Zacks Research raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Finally, Barclays boosted their price objective on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and a consensus price target of $19.33.

ZIM Integrated Shipping Services Stock Up 2.6%

ZIM Integrated Shipping Services stock opened at $24.93 on Wednesday. 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 stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 30.78 and a beta of 1.19. ZIM Integrated Shipping Services Ltd. has a 1-year low of $12.33 and a 1-year high of $29.97. The business has a fifty day moving average price of $25.01 and a 200-day moving average price of $25.18.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.48 billion. Equities research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Saar Dotan sold 11,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.11, for a total transaction of $287,210.00. Following the sale, the executive vice president owned 90,667 shares in the company, valued at approximately $2,367,315.37. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 61,000 shares of company stock valued at $1,537,310 over the last three months. 1.30% of the stock is currently owned by company insiders.

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.