Mitel Networks Corporation (MITL) Chairman Terence H. Matthews Sells 1,878 Shares
Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) Chairman Terence H. Matthews sold 1,878 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $7.94, for a total value of $14,911.32. Following the completion of the sale, the chairman now directly owns 46,462 shares of the company’s stock, valued at $368,908.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Mitel Networks Corporation (MITL) traded down $0.07 during mid-day trading on Tuesday, hitting $7.94. The company had a trading volume of 840,600 shares, compared to its average volume of 701,976. Mitel Networks Corporation has a 52-week low of $6.21 and a 52-week high of $9.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.00 and a quick ratio of 0.77.
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Several equities research analysts have recently issued reports on the company. BidaskClub lowered Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research raised Mitel Networks Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Royal Bank Of Canada raised their price target on Mitel Networks Corporation from $7.50 to $8.50 and gave the stock a “sector perform” rating in a research note on Friday, July 28th. TheStreet raised Mitel Networks Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. Finally, National Bank Financial raised Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $7.50 to $10.00 in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $11.25.
Several hedge funds have recently modified their holdings of MITL. Campbell & CO Investment Adviser LLC purchased a new position in Mitel Networks Corporation during the 2nd quarter worth $109,000. UBS Group AG increased its holdings in Mitel Networks Corporation by 3.6% during the 1st quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock worth $113,000 after purchasing an additional 570 shares during the period. Cullen Capital Management LLC purchased a new position in Mitel Networks Corporation during the 2nd quarter worth $125,000. FDx Advisors Inc. purchased a new position in Mitel Networks Corporation during the 3rd quarter worth $125,000. Finally, Quantbot Technologies LP purchased a new position in Mitel Networks Corporation during the 2nd quarter worth $143,000. 79.12% of the stock is owned by hedge funds and other institutional investors.
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.
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