Renaissance Technologies LLC Buys 58,603 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Renaissance Technologies LLC raised its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,936,288 shares of the company’s stock after acquiring an additional 58,603 shares during the period. Renaissance Technologies LLC’s holdings in ZIM Integrated Shipping Services were worth $77,371,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ZIM. Royal Bank of Canada increased its holdings in shares of ZIM Integrated Shipping Services by 8.2% in the first quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock worth $596,000 after purchasing an additional 3,102 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the first quarter worth about $210,000. Goldman Sachs Group Inc. boosted its stake in ZIM Integrated Shipping Services by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after buying an additional 788,514 shares during the last quarter. Geode Capital Management LLC boosted its stake in ZIM Integrated Shipping Services by 5.6% during the second quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock valued at $1,915,000 after buying an additional 6,342 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in ZIM Integrated Shipping Services by 505.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock valued at $1,236,000 after buying an additional 64,057 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. JPMorgan Chase & Co. increased 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 upgraded 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 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 equities research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.33.

Insider Activity

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

ZIM Integrated Shipping Services Stock Performance

ZIM Integrated Shipping Services stock opened at $24.89 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. The firm has a market capitalization of $3.00 billion, a P/E ratio of 30.73 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 company’s 50-day moving average is $24.98 and its 200 day moving average is $25.23.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.50). The business had revenue of $1.40 billion for 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%. Research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.

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.