Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) major shareholder Associates L.P. Elliott sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $8.15, for a total transaction of $203,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Associates L.P. Elliott also recently made the following trade(s):

  • On Friday, September 1st, Associates L.P. Elliott sold 50,000 shares of Mitel Networks Corporation stock. The shares were sold at an average price of $8.26, for a total transaction of $413,000.00.
  • On Monday, August 28th, Associates L.P. Elliott sold 1,000 shares of Mitel Networks Corporation stock. The shares were sold at an average price of $8.25, for a total transaction of $8,250.00.
  • On Friday, August 25th, Associates L.P. Elliott sold 154,184 shares of Mitel Networks Corporation stock. The shares were sold at an average price of $8.29, for a total transaction of $1,278,185.36.

Shares of Mitel Networks Corporation (NASDAQ:MITL) opened at 8.19 on Friday. Mitel Networks Corporation has a 12 month low of $6.21 and a 12 month high of $8.94. The firm’s market cap is $968.44 million. The stock has a 50 day moving average of $8.27 and a 200 day moving average of $7.30.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last announced its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.14. The business had revenue of $238.60 million during the quarter, compared to the consensus estimate of $244.55 million. Mitel Networks Corporation had a negative net margin of 20.50% and a positive return on equity of 4.69%. The business’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. On average, equities research analysts expect that Mitel Networks Corporation will post $0.68 EPS for the current fiscal year.

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Several research firms recently commented on MITL. BidaskClub lowered shares of Mitel Networks Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada raised their price target on shares of Mitel Networks Corporation from $7.50 to $8.50 and gave the company a “sector perform” rating in a research report on Friday, July 28th. National Bank Financial upgraded shares of Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $7.50 to $10.00 in a research report on Friday, July 28th. TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 19th. 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 company’s stock. Mitel Networks Corporation currently has an average rating of “Hold” and an average target price of $9.25.

Several institutional investors and hedge funds have recently made changes to their positions in MITL. Campbell & CO Investment Adviser LLC purchased a new position in shares of Mitel Networks Corporation in the 2nd quarter valued at about $109,000. UBS Group AG increased its holdings in shares of Mitel Networks Corporation by 3.6% in the 1st quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock valued at $113,000 after purchasing an additional 570 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Mitel Networks Corporation by 146.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 12,595 shares of the communications equipment provider’s stock valued at $115,000 after purchasing an additional 7,483 shares in the last quarter. Stevens Capital Management LP increased its holdings in shares of Mitel Networks Corporation by 12.1% in the 1st quarter. Stevens Capital Management LP now owns 16,888 shares of the communications equipment provider’s stock valued at $117,000 after purchasing an additional 1,818 shares in the last quarter. Finally, Cullen Capital Management LLC purchased a new position in shares of Mitel Networks Corporation in the 2nd quarter valued at about $125,000. Institutional investors and hedge funds own 79.21% 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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