Traders Purchase High Volume of Call Options on ZIM Integrated Shipping Services (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the recipient of unusually large options trading on Friday. Stock traders acquired 7,332 call options on the stock. This represents an increase of 43% compared to the typical volume of 5,115 call options.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM opened at $28.15 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.14. The stock has a market cap of $3.39 billion, a PE ratio of 34.76 and a beta of 1.21. ZIM Integrated Shipping Services has a 12-month low of $12.33 and a 12-month high of $29.97. The business has a 50-day simple moving average of $25.20 and a two-hundred day simple moving average of $25.61.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly 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). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.48 billion. Analysts anticipate that ZIM Integrated Shipping Services will post 3.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZIM has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Barclays boosted their target price on 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. JPMorgan Chase & Co. increased their target price 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, Zacks Research upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.33.

Insiders Place Their Bets

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 11,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.11, for a total value of $287,210.00. Following the sale, the executive vice president owned 90,667 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Insiders sold 61,000 shares of company stock worth $1,537,310 in the last three months. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently added to or reduced their stakes in ZIM. Goldman Sachs Group Inc. increased its position in ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after acquiring an additional 788,514 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth approximately $89,845,000. Meitav Investment House Ltd. lifted its stake in shares of ZIM Integrated Shipping Services by 13.7% in the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company’s stock worth $102,934,000 after acquiring an additional 472,092 shares during the period. Yelin Lapidot Holdings Management Ltd. boosted its holdings in ZIM Integrated Shipping Services by 1.2% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company’s stock valued at $86,028,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in ZIM Integrated Shipping Services by 2.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,936,288 shares of the company’s stock valued at $77,371,000 after purchasing an additional 58,603 shares during the period. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Company Profile

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.