GABELLI & Co INVESTMENT ADVISERS INC. Takes Position in ZIM Integrated Shipping Services Ltd. $ZIM

GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,650 shares of the company’s stock, valued at approximately $729,000.

A number of other large investors have also bought and sold shares of ZIM. Public Employees Retirement System of Ohio increased its holdings in ZIM Integrated Shipping Services by 0.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 129,800 shares of the company’s stock valued at $3,420,000 after purchasing an additional 1,000 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in ZIM Integrated Shipping Services in the first quarter worth $5,475,000. Sei Investments Co. acquired a new position in ZIM Integrated Shipping Services in the first quarter worth $769,000. Assetmark Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $59,000. Finally, Independent Financial Group LLC bought a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $272,000. 21.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Saar Dotan sold 20,000 shares of ZIM Integrated Shipping Services stock in a transaction that occurred 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 sale, the executive vice president owned 131,667 shares in the company, valued at $3,242,958.21. The trade was a 13.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 61,000 shares of company stock valued at $1,537,310. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ZIM shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. Zacks Research raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. increased their price objective on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a report on Tuesday, June 30th. Finally, Barclays raised 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 report on Tuesday, June 30th. Two investment 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, the company has an average rating of “Hold” and an average target price of $19.33.

ZIM Integrated Shipping Services Stock Down 2.7%

Shares of ZIM opened at $24.89 on Friday. The business’s fifty day moving average price is $24.98 and its two-hundred day moving average price is $25.23. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 30.73 and a beta of 1.19. ZIM Integrated Shipping Services Ltd. has a 52 week low of $12.33 and a 52 week high of $29.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.19.

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 analysts’ consensus estimates of ($0.22) by ($0.50). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.48 billion. ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%. On average, analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current 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.