Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) Chairman Terence H. Matthews sold 350,000 shares of Mitel Networks Corporation stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $8.35, for a total value of $2,922,500.00. Following the completion of the transaction, the chairman now owns 40,703 shares of the company’s stock, valued at $339,870.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mitel Networks Corporation (MITL) traded down 0.24% on Wednesday, reaching $8.33. The company had a trading volume of 1,467,409 shares. Mitel Networks Corporation has a 52-week low of $6.21 and a 52-week high of $8.94. The firm’s market capitalization is $985.00 million. The stock’s 50-day moving average price is $7.49 and its 200 day moving average price is $7.07.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last issued its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.14. Mitel Networks Corporation had a negative net margin of 20.50% and a positive return on equity of 4.69%. The business had revenue of $238.60 million for the quarter, compared to analyst estimates of $244.55 million. During the same period in the previous year, the business earned $0.19 EPS. The firm’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts anticipate that Mitel Networks Corporation will post $0.71 earnings per share for the current fiscal year.

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A number of research analysts recently issued reports on MITL shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $7.50 target price on shares of Mitel Networks Corporation in a report on Tuesday, May 2nd. National Bank Financial lowered Mitel Networks Corporation from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 4th. BidaskClub lowered Mitel Networks Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research lowered Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, TheStreet upgraded Mitel Networks Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $9.25.

Several hedge funds have recently modified their holdings of MITL. Sentry Investments Corp. acquired a new stake in shares of Mitel Networks Corporation during the second quarter valued at $12,866,000. River Road Asset Management LLC purchased a new position in Mitel Networks Corporation during the second quarter worth approximately $26,104,000. Federated Investors Inc. PA raised its position in Mitel Networks Corporation by 14.6% in the second quarter. Federated Investors Inc. PA now owns 193,790 shares of the communications equipment provider’s stock worth $1,425,000 after buying an additional 24,680 shares during the period. Teton Advisors Inc. raised its position in Mitel Networks Corporation by 58.3% in the second quarter. Teton Advisors Inc. now owns 86,600 shares of the communications equipment provider’s stock worth $637,000 after buying an additional 31,900 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Mitel Networks Corporation by 54.1% in the second quarter. Bank of New York Mellon Corp now owns 40,433 shares of the communications equipment provider’s stock worth $298,000 after buying an additional 14,191 shares during the period. Institutional investors and hedge funds own 78.92% of the company’s stock.

Mitel Networks Corporation 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.

Insider Buying and Selling by Quarter for Mitel Networks Corporation (NASDAQ:MITL)

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