Goldman Sachs Group Inc. lifted its stake in Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 362.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,206 shares of the communications equipment provider’s stock after acquiring an additional 52,686 shares during the period. Goldman Sachs Group Inc. owned 0.06% of Mitel Networks Corporation worth $494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Mitel Networks Corporation in the 2nd quarter worth $109,000. UBS Group AG raised its position 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 worth $113,000 after acquiring an additional 570 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Mitel Networks Corporation in the 2nd quarter worth $143,000. JPMorgan Chase & Co. bought a new position in shares of Mitel Networks Corporation in the 1st quarter worth $254,000. Finally, Bank of New York Mellon Corp raised its position in shares of Mitel Networks Corporation by 54.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,433 shares of the communications equipment provider’s stock worth $298,000 after acquiring an additional 14,191 shares in the last quarter. 79.12% of the stock is owned by hedge funds and other institutional investors.

Mitel Networks Corporation (MITL) opened at $8.01 on Monday. Mitel Networks Corporation has a 1 year low of $6.21 and a 1 year high of $9.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.00 and a quick ratio of 0.77.

In other Mitel Networks Corporation news, insider Richard D. Mcbee bought 10,000 shares of Mitel Networks Corporation stock in a transaction that occurred on Wednesday, November 8th. The shares were bought at an average cost of $8.00 per share, with a total value of $80,000.00. Following the transaction, the insider now directly owns 268,047 shares of the company’s stock, valued at approximately $2,144,376. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mahawa Vanessa Touray sold 10,933 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $8.09, for a total value of $88,447.97. Following the transaction, the insider now directly owns 2,770 shares in the company, valued at $22,409.30. The disclosure for this sale can be found here. Insiders have sold a total of 984,598 shares of company stock worth $8,126,483 over the last ninety days. 16.50% of the stock is currently owned by corporate insiders.

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Several research analysts have recently commented on MITL shares. Royal Bank Of Canada reissued a “hold” rating and issued a $8.50 price target on shares of Mitel Networks Corporation in a research report on Thursday, November 2nd. Zacks Investment Research lowered Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 19th. National Bank Financial upped their target price on Mitel Networks Corporation from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. TheStreet raised Mitel Networks Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Finally, BidaskClub lowered Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Mitel Networks Corporation has an average rating of “Hold” and a consensus target price of $11.25.

About Mitel Networks Corporation

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.

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

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