Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) insider Thomas Gerald Lokar sold 6,000 shares of Mitel Networks Corporation stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $8.20, for a total value of $49,200.00. Following the completion of the transaction, the insider now directly owns 6,000 shares of the company’s stock, valued at $49,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Thomas Gerald Lokar also recently made the following trade(s):

  • On Monday, August 7th, Thomas Gerald Lokar sold 18,736 shares of Mitel Networks Corporation stock. The shares were sold at an average price of $8.64, for a total value of $161,879.04.

Shares of Mitel Networks Corporation (MITL) remained flat at $8.18 during mid-day trading on Friday. 963,424 shares of the stock traded hands. The stock’s 50-day moving average price is $7.90 and its 200-day moving average price is $7.20. The company’s market cap is $967.26 million. Mitel Networks Corporation has a 1-year low of $6.21 and a 1-year high of $8.94.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last announced its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.14. Mitel Networks Corporation had a positive return on equity of 4.69% and a negative net margin of 20.50%. The firm had revenue of $238.60 million during the quarter, compared to analyst estimates of $244.55 million. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue was down 8.3% compared to the same quarter last year. Equities analysts anticipate that Mitel Networks Corporation will post $0.71 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new position in Mitel Networks Corporation during the second quarter worth $109,000. UBS Group AG raised its position in 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 period. Tower Research Capital LLC TRC raised its position in 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 period. Stevens Capital Management LP raised its position 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 worth $117,000 after buying an additional 1,818 shares during the period. Finally, Cullen Capital Management LLC bought a new position in Mitel Networks Corporation during the second quarter worth $125,000. 82.54% of the stock is owned by hedge funds and other institutional investors.

MITL has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $7.50 price target on shares of Mitel Networks Corporation in a report on Tuesday, May 2nd. Zacks Investment Research cut Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. National Bank Financial cut Mitel Networks Corporation from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 4th. BidaskClub cut Mitel Networks Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, TheStreet raised Mitel Networks Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.25.

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.

Insider Buying and Selling by Quarter for Mitel Networks Corporation (NASDAQ:MITL)

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