CIBC World Markets Inc. decreased its holdings in Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 30.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,836 shares of the communications equipment provider’s stock after selling 15,351 shares during the quarter. CIBC World Markets Inc.’s holdings in Mitel Networks Corporation were worth $256,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. River Road Asset Management LLC bought a new stake in shares of Mitel Networks Corporation in the second quarter worth $26,104,000. Sentry Investments Corp. bought a new stake in shares of Mitel Networks Corporation in the second quarter worth $12,866,000. Oxford Asset Management bought a new stake in shares of Mitel Networks Corporation in the first quarter worth $915,000. Stevens Capital Management LP grew its stake in shares of Mitel Networks Corporation by 12.1% in the first quarter. Stevens Capital Management LP now owns 16,888 shares of the communications equipment provider’s stock worth $117,000 after purchasing an additional 1,818 shares during the last quarter. Finally, Eidelman Virant Capital bought a new stake in shares of Mitel Networks Corporation in the second quarter worth $1,249,000. 79.18% of the stock is currently owned by institutional investors.

Shares of Mitel Networks Corporation (NASDAQ MITL) opened at 8.13 on Friday. The firm’s 50-day moving average is $8.24 and its 200-day moving average is $7.34. Mitel Networks Corporation has a 12 month low of $6.21 and a 12 month high of $8.94. The company’s market cap is $961.35 million.

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, beating analysts’ consensus estimates 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 firm had revenue of $238.60 million for the quarter, compared to analysts’ expectations of $244.55 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities research analysts predict that Mitel Networks Corporation will post $0.68 earnings per share for the current year.

Several analysts recently weighed in on the stock. BidaskClub raised shares of Mitel Networks Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. TheStreet raised shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. National Bank Financial raised shares of Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $7.50 to $10.00 in a research note on Friday, July 28th. Royal Bank Of Canada boosted their price objective on shares of Mitel Networks Corporation from $7.50 to $8.50 and gave the stock a “sector perform” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research cut shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.25.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Daily Political and is the property of of Daily Political. If you are viewing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright and trademark laws. The correct version of this news story can be read at https://www.dailypolitical.com/2017/09/23/cibc-world-markets-inc-has-256000-position-in-mitel-networks-corporation-mitl.html.

In other Mitel Networks Corporation news, major shareholder Associates L.P. Elliott sold 154,184 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $8.29, for a total value of $1,278,185.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas Gerald Lokar sold 18,736 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $8.64, for a total transaction of $161,879.04. Following the completion of the transaction, the insider now owns 14,752 shares in the company, valued at approximately $127,457.28. The disclosure for this sale can be found here. Insiders sold 1,770,216 shares of company stock worth $14,545,175 in the last 90 days. Corporate 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.