Traders Buy Large Volume of Put Options on ZIM Integrated Shipping Services (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Rating) saw some unusual options trading on Friday. Stock traders purchased 31,751 put options on the company. This represents an increase of 50% compared to the typical daily volume of 21,100 put options.

ZIM Integrated Shipping Services Trading Down 3.1 %

NYSE ZIM opened at $24.78 on Friday. ZIM Integrated Shipping Services has a 1-year low of $22.33 and a 1-year high of $91.23. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $25.61 and a 200-day moving average of $42.74. The firm has a market cap of $2.97 billion, a PE ratio of 0.50 and a beta of 2.41.

ZIM Integrated Shipping Services (NYSE:ZIMGet Rating) last released its earnings results on Wednesday, August 17th. The company reported $11.07 earnings per share for the quarter, missing analysts’ consensus estimates of $12.16 by ($1.09). The company had revenue of $3.43 billion during the quarter. ZIM Integrated Shipping Services had a net margin of 42.71% and a return on equity of 125.68%. During the same period in the previous year, the business posted $7.38 earnings per share. As a group, sell-side analysts forecast that ZIM Integrated Shipping Services will post 38.03 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Tuesday, November 29th will be given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a yield of 47.62%. The ex-dividend date of this dividend is Monday, November 28th. ZIM Integrated Shipping Services’s payout ratio is 38.70%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter worth approximately $28,000. Cullen Frost Bankers Inc. bought a new position in shares of ZIM Integrated Shipping Services in the 1st quarter worth approximately $29,000. Exchange Traded Concepts LLC raised its position in shares of ZIM Integrated Shipping Services by 92.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,406 shares of the company’s stock worth $33,000 after acquiring an additional 676 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth approximately $35,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter worth approximately $40,000. Institutional investors own 42.82% of the company’s stock.

Analysts Set New Price Targets

ZIM has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their price objective on ZIM Integrated Shipping Services from $60.00 to $30.00 in a research note on Tuesday, September 20th. Jefferies Financial Group reduced their target price on ZIM Integrated Shipping Services from $55.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, October 7th. TheStreet cut ZIM Integrated Shipping Services from a “c-” rating to a “d+” rating in a research report on Thursday, September 22nd. Citigroup cut ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating in a research report on Monday, August 22nd. Finally, Barclays reduced their target price on ZIM Integrated Shipping Services from $63.00 to $26.50 and set an “equal weight” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.36.

About ZIM Integrated Shipping Services

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ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.

Further Reading

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