Mitel Networks Corp (MITL) Director Peter Charbonneau Sells 4,668 Shares
Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) Director Peter Charbonneau sold 4,668 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $10.98, for a total value of $51,254.64. Following the completion of the sale, the director now owns 59,969 shares of the company’s stock, valued at approximately $658,459.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Peter Charbonneau also recently made the following trade(s):
- On Tuesday, August 7th, Peter Charbonneau sold 10,460 shares of Mitel Networks stock. The shares were sold at an average price of $11.01, for a total value of $115,164.60.
Shares of Mitel Networks stock traded down $0.01 during trading hours on Friday, hitting $10.99. 95,625 shares of the company were exchanged, compared to its average volume of 1,025,065. Mitel Networks Corp has a 1 year low of $7.13 and a 1 year high of $11.31. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.05 and a quick ratio of 0.87. The stock has a market capitalization of $1.35 billion, a PE ratio of -27.45 and a beta of 2.32.
Several institutional investors have recently added to or reduced their stakes in MITL. P2 Capital Partners LLC purchased a new stake in shares of Mitel Networks during the first quarter worth approximately $55,680,000. Alpine Associates Management Inc. purchased a new stake in shares of Mitel Networks during the second quarter worth approximately $61,934,000. Paulson & CO. Inc. purchased a new stake in shares of Mitel Networks during the second quarter worth approximately $43,880,000. Gardner Lewis Asset Management L P purchased a new stake in shares of Mitel Networks during the second quarter worth approximately $30,632,000. Finally, Legion Partners Asset Management LLC purchased a new stake in shares of Mitel Networks during the first quarter worth approximately $17,949,000. Institutional investors and hedge funds own 81.39% of the company’s stock.
A number of equities research analysts have weighed in on the company. Craig Hallum cut Mitel Networks from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research note on Tuesday, May 15th. BidaskClub cut Mitel Networks from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Finally, ValuEngine cut Mitel Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.05.
About Mitel Networks
Mitel Networks Corporation provides cloud and on-site business communications and collaboration software, services, and solutions. It operates in two segments, Enterprise and Cloud. The Enterprise segment sells and supports products and services for premise-based customers, including its premise-based IP and TDM telephony platforms; desktop devices, and unified communications and collaborations (UCC); and contact center applications that are deployed on the customer's premise under the MiVoice brand.
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