First Interstate Bank Has $291,000 Position in Mitel Networks Corporation (MITL)
First Interstate Bank increased its stake in Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,010 shares of the communications equipment provider’s stock after buying an additional 300 shares during the period. First Interstate Bank’s holdings in Mitel Networks Corporation were worth $291,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Stevens Capital Management LP raised its stake in 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 valued at $117,000 after buying an additional 1,818 shares in the last quarter. Franklin Resources Inc. raised its stake in Mitel Networks Corporation by 13.7% in the fourth quarter. Franklin Resources Inc. now owns 19,951 shares of the communications equipment provider’s stock valued at $136,000 after buying an additional 2,410 shares in the last quarter. Toronto Dominion Bank raised its stake in Mitel Networks Corporation by 47.7% in the first quarter. Toronto Dominion Bank now owns 19,827 shares of the communications equipment provider’s stock valued at $137,000 after buying an additional 6,401 shares in the last quarter. AQR Capital Management LLC bought a new stake in Mitel Networks Corporation during the fourth quarter valued at approximately $197,000. Finally, JPMorgan Chase & Co. bought a new stake in Mitel Networks Corporation during the first quarter valued at approximately $254,000. Institutional investors and hedge funds own 78.93% of the company’s stock.
Shares of Mitel Networks Corporation (NASDAQ MITL) traded down 1.34% during mid-day trading on Friday, hitting $7.38. The company’s stock had a trading volume of 765,715 shares. The stock has a 50-day moving average of $6.94 and a 200-day moving average of $6.96. Mitel Networks Corporation has a 12-month low of $5.81 and a 12-month high of $8.52. The company’s market cap is $905.74 million.
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A number of research analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “hold” rating and set a $7.50 target price on shares of Mitel Networks Corporation in a research 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.
In other Mitel Networks Corporation news, Director David M. Williams bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was purchased at an average cost of $7.51 per share, for a total transaction of $75,100.00. Following the completion of the purchase, the director now owns 220,000 shares of the company’s stock, valued at approximately $1,652,200. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gregory James Hiscock sold 3,750 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $7.34, for a total value of $27,525.00. Following the completion of the transaction, the insider now owns 12,313 shares of the company’s stock, valued at $90,377.42. The disclosure for this sale can be found here. Insiders sold 979,356 shares of company stock worth $6,933,262 over the last 90 days. 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.
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