Bank of Montreal Can boosted its stake in shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,962 shares of the communications equipment provider’s stock after buying an additional 3,156 shares during the period. Bank of Montreal Can owned approximately 0.10% of Mitel Networks Corporation worth $918,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new stake in shares of Mitel Networks Corporation during the fourth quarter valued at $197,000. Russell Investments Group Ltd. increased its stake in shares of Mitel Networks Corporation by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 265,236 shares of the communications equipment provider’s stock valued at $1,834,000 after buying an additional 27,972 shares in the last quarter. Investment Counselors of Maryland LLC purchased a new stake in shares of Mitel Networks Corporation during the first quarter valued at $18,587,000. Cumberland Partners Ltd increased its stake in shares of Mitel Networks Corporation by 3.8% in the first quarter. Cumberland Partners Ltd now owns 2,026,930 shares of the communications equipment provider’s stock valued at $14,029,000 after buying an additional 74,500 shares in the last quarter. Finally, Rubric Capital Management LP increased its stake in shares of Mitel Networks Corporation by 112.1% in the first quarter. Rubric Capital Management LP now owns 1,137,389 shares of the communications equipment provider’s stock valued at $7,882,000 after buying an additional 601,033 shares in the last quarter. 82.54% of the stock is currently owned by institutional investors and hedge funds.

Mitel Networks Corporation (NASDAQ MITL) traded up 2.22% on Tuesday, reaching $8.28. 424,986 shares of the company traded hands. Mitel Networks Corporation has a 1-year low of $6.21 and a 1-year high of $8.94. The stock’s market capitalization is $979.09 million. The stock has a 50 day moving average of $7.80 and a 200-day moving average of $7.16.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last released its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. The firm had revenue of $238.60 million during the quarter, compared to analysts’ expectations of $244.55 million. Mitel Networks Corporation had a positive return on equity of 4.69% and a negative net margin of 20.50%. Mitel Networks Corporation’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, equities analysts anticipate that Mitel Networks Corporation will post $0.71 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/08/22/mitel-networks-corporation-mitl-position-increased-by-bank-of-montreal-can.html.

Several equities research analysts have recently weighed in on MITL shares. Royal Bank Of Canada reissued a “hold” rating and issued a $7.50 target price on shares of Mitel Networks Corporation in a research note on Tuesday, May 2nd. National Bank Financial downgraded shares of Mitel Networks Corporation from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 4th. BidaskClub downgraded shares of Mitel Networks Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Zacks Investment Research downgraded shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Finally, TheStreet raised shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Mitel Networks Corporation currently has a consensus rating of “Hold” and a consensus target price of $9.25.

In other news, Chairman Terence H. Matthews sold 450,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $8.32, for a total value of $3,744,000.00. Following the completion of the transaction, the chairman now owns 40,703 shares in the company, valued at $338,648.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Terence H. Matthews sold 971,900 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $7.08, for a total value of $6,881,052.00. Following the completion of the transaction, the chairman now owns 40,703 shares of the company’s stock, valued at approximately $288,177.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,111,743 shares of company stock valued at $16,218,688. Company insiders own 16.50% 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.

Want to see what other hedge funds are holding MITL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW).

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

Receive News & Ratings for Mitel Networks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitel Networks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.