Foundry Partners LLC raised its position in Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 34.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,525 shares of the communications equipment provider’s stock after buying an additional 19,675 shares during the period. Foundry Partners LLC owned about 0.06% of Mitel Networks Corporation worth $562,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MITL. Tower Research Capital LLC TRC increased its position in shares of Mitel Networks Corporation by 146.4% in the first quarter. Tower Research Capital LLC TRC now owns 12,595 shares of the communications equipment provider’s stock worth $115,000 after buying an additional 7,483 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Mitel Networks Corporation during the second quarter worth $109,000. UBS Group AG increased its position in shares of Mitel Networks Corporation by 3.6% in the first quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 570 shares during the last quarter. Stevens Capital Management LP increased its position 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 buying an additional 1,818 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of 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 worth $137,000 after buying an additional 6,401 shares during the last quarter. Hedge funds and other institutional investors own 82.54% of the company’s stock.

Mitel Networks Corporation (NASDAQ MITL) opened at 8.26 on Friday. Mitel Networks Corporation has a 1-year low of $6.21 and a 1-year high of $8.94. The stock’s market cap is $976.72 million. The company has a 50-day moving average price of $7.75 and a 200 day moving average price of $7.14.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last posted its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 EPS for the quarter, topping 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 business had revenue of $238.60 million during the quarter, compared to the consensus estimate of $244.55 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s revenue was down 8.3% on a year-over-year basis. Equities analysts expect that Mitel Networks Corporation will post $0.71 earnings per share for the current fiscal year.

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MITL has been the topic of several research analyst reports. BidaskClub downgraded Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Royal Bank Of Canada upped their price objective on Mitel Networks Corporation from $7.50 to $8.50 and gave the company a “sector perform” rating in a research note on Friday, July 28th. TheStreet upgraded Mitel Networks Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. National Bank Financial upgraded Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $7.50 to $10.00 in a research note on Friday, July 28th. Finally, Zacks Investment Research downgraded Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Mitel Networks Corporation has a consensus rating of “Hold” and a consensus price target of $9.25.

In other Mitel Networks Corporation news, insider Thomas Gerald Lokar sold 18,736 shares of Mitel Networks Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $8.64, for a total value of $161,879.04. Following the completion of the sale, the insider now owns 14,752 shares of the company’s stock, valued at approximately $127,457.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Terence H. Matthews sold 450,000 shares of Mitel Networks Corporation stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $8.32, for a total transaction of $3,744,000.00. Following the completion of the sale, the chairman now directly owns 40,703 shares of the company’s stock, valued at approximately $338,648.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,111,743 shares of company stock valued at $16,218,688. 16.50% of the stock is currently owned by insiders.

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

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