Francisco Partners Parallel Fund II, L.P.

recently disclosed that they own a 5.3% stake in Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) in a Form 13D/A disclosure that was filed with the SEC on Monday, March 20th. The investor owns 6,344,038 shares of the stock worth $44,471,706. The reporting parties listed on the disclosure included Arsenal Holdco I, Sarl, Arsenal Holdco II, Sarl, Francisco Partners II (Cayman), LP, Francisco Partners GP II (Cayman), LP, Francisco Partners GP II Management (Cayman) Limited, Francisco Partners Parallel Fund II, LP 204495943, Francisco Partners GP II, LP 202134312 and Francisco Partners GP II Management, LLC 203134326. The disclosure is available through Edgar at this hyperlink.

Other large investors also recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in shares of Mitel Networks Corp by 6.6% in the third quarter. Toronto Dominion Bank now owns 19,825 shares of the company’s stock valued at $146,000 after buying an additional 1,233 shares during the period. Franklin Resources Inc. raised its stake in shares of Mitel Networks Corp by 13.7% in the fourth quarter. Franklin Resources Inc. now owns 19,951 shares of the company’s stock valued at $136,000 after buying an additional 2,410 shares during the period. First Interstate Bank raised its stake in shares of Mitel Networks Corp by 19.4% in the fourth quarter. First Interstate Bank now owns 41,710 shares of the company’s stock valued at $284,000 after buying an additional 6,790 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of Mitel Networks Corp by 10.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 101,350 shares of the company’s stock valued at $689,000 after buying an additional 9,900 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Mitel Networks Corp by 0.3% in the second quarter. Royal Bank of Canada now owns 3,918,309 shares of the company’s stock valued at $24,646,000 after buying an additional 13,606 shares during the period. 77.46% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Mitel Networks Corp (NASDAQ:MITL)

Mitel Networks Corp (NASDAQ:MITL) remained flat at $7.01 on Monday. The company had a trading volume of 227,035 shares. The company’s 50 day moving average is $6.93 and its 200 day moving average is $7.03. The firm’s market cap is $855.12 million. Mitel Networks Corp has a 52-week low of $5.81 and a 52-week high of $8.52.

Mitel Networks Corp (NASDAQ:MITL) last issued its earnings results on Thursday, February 23rd. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Mitel Networks Corp had a positive return on equity of 14.48% and a negative net margin of 1.19%. The company earned $277.50 million during the quarter, compared to the consensus estimate of $301.63 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. On average, analysts anticipate that Mitel Networks Corp will post $0.64 EPS for the current fiscal year.

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Separately, Royal Bank of Canada downgraded Mitel Networks Corp from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $9.00 to $7.50 in a research note on Tuesday, December 20th.

In other news, CFO Steven Edward Spooner sold 4,040 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $6.58, for a total value of $26,583.20. Following the completion of the sale, the chief financial officer now owns 153,536 shares of the company’s stock, valued at $1,010,266.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Terence H. Matthews sold 254,699 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $6.64, for a total value of $1,691,201.36. Following the completion of the sale, the chairman now directly owns 41,311 shares of the company’s stock, valued at approximately $274,305.04. The disclosure for this sale can be found here. Insiders sold 288,632 shares of company stock valued at $1,924,549 in the last ninety days.

Mitel Networks Corp Company Profile

Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company’s segments include Cloud and Enterprise. The Enterprise segment sells and supports products and services for premise-based customers. The Cloud segment sells and supports products that are deployed in a cloud environment.

5 Day Chart for NASDAQ:MITL

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