Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) major shareholder Associates L.P. Elliott sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $8.15, for a total transaction of $203,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Associates L.P. Elliott also recently made the following trade(s):

  • On Friday, September 1st, Associates L.P. Elliott sold 50,000 shares of Mitel Networks Corporation stock. The stock was sold at an average price of $8.26, for a total transaction of $413,000.00.
  • On Monday, August 28th, Associates L.P. Elliott sold 1,000 shares of Mitel Networks Corporation stock. The stock was sold at an average price of $8.25, for a total transaction of $8,250.00.
  • On Friday, August 25th, Associates L.P. Elliott sold 154,184 shares of Mitel Networks Corporation stock. The stock was sold at an average price of $8.29, for a total transaction of $1,278,185.36.

Shares of Mitel Networks Corporation (NASDAQ MITL) opened at 8.19 on Friday. The company’s market capitalization is $968.44 million. The stock has a 50 day moving average of $8.27 and a 200-day moving average of $7.30. Mitel Networks Corporation has a one year low of $6.21 and a one year high of $8.94.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last posted its earnings results on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share 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 during the quarter, compared to analyst estimates of $244.55 million. During the same period last year, the firm posted $0.19 earnings per share. Mitel Networks Corporation’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities analysts expect that Mitel Networks Corporation will post $0.68 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Mitel Networks Corporation in the second quarter valued at $205,000. Schafer Cullen Capital Management Inc. purchased a new position in shares of Mitel Networks Corporation in the second quarter valued at $257,000. Cullen Capital Management LLC purchased a new position in shares of Mitel Networks Corporation in the second quarter valued at $125,000. 1st Global Advisors Inc. grew its holdings in shares of Mitel Networks Corporation by 1.4% in the second quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock valued at $174,000 after purchasing an additional 337 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Mitel Networks Corporation by 308.9% in the second quarter. Cubist Systematic Strategies LLC now owns 34,835 shares of the communications equipment provider’s stock valued at $256,000 after purchasing an additional 26,315 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on MITL shares. Zacks Investment Research lowered shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. National Bank Financial upgraded 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 report on Friday, July 28th. TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. 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 report on Friday, July 28th. Finally, BidaskClub lowered shares of Mitel Networks Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. One equities research 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 currently has an average rating of “Hold” and a consensus price target of $9.25.

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.

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

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