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 on Tuesday, September 12th. The stock was sold at an average price of $8.15, for a total value of $203,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock 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 value 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 value 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 value of $1,278,185.36.

Mitel Networks Corporation (NASDAQ:MITL) traded down 0.25% during trading on Thursday, hitting $8.13. The stock had a trading volume of 438,461 shares. The firm’s 50-day moving average price is $8.26 and its 200-day moving average price is $7.29. 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 $961.35 million.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last released its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.14. The business had revenue of $238.60 million during the quarter, compared to analyst estimates of $244.55 million. Mitel Networks Corporation had a positive return on equity of 4.69% and a negative net margin of 20.50%. The company’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. On average, equities research analysts predict that Mitel Networks Corporation will post $0.68 earnings per share for the current fiscal year.

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A number of equities analysts have recently weighed in on the company. BidaskClub cut Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. TheStreet raised 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 target on Mitel Networks Corporation from $7.50 to $8.50 and gave the stock a “sector perform” rating in a report on Friday, July 28th. National Bank Financial raised Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $7.50 to $10.00 in a report on Friday, July 28th. Finally, Zacks Investment Research cut Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.25.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Mitel Networks Corporation during the 2nd quarter worth $205,000. Schafer Cullen Capital Management Inc. bought a new stake in shares of Mitel Networks Corporation during the 2nd quarter worth $257,000. Cullen Capital Management LLC bought a new stake in shares of Mitel Networks Corporation during the 2nd quarter worth $125,000. 1st Global Advisors Inc. boosted its stake in shares of Mitel Networks Corporation by 1.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock worth $174,000 after acquiring an additional 337 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Mitel Networks Corporation by 308.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 34,835 shares of the communications equipment provider’s stock worth $256,000 after acquiring an additional 26,315 shares in the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

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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