Mitel Networks Corporation (MITL) Holdings Boosted by Strs Ohio

Strs Ohio lifted its holdings in shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 136.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,309 shares of the communications equipment provider’s stock after buying an additional 66,044 shares during the quarter. Strs Ohio owned about 0.10% of Mitel Networks Corporation worth $959,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MITL. 1st Global Advisors Inc. grew its holdings in Mitel Networks Corporation by 1.4% during 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 during the period. River Road Asset Management LLC acquired a new position in Mitel Networks Corporation during the second quarter valued at approximately $26,104,000. Sentry Investments Corp. acquired a new position in Mitel Networks Corporation during the second quarter valued at approximately $12,866,000. Paradigm Capital Management Inc. NY grew its holdings in Mitel Networks Corporation by 37.0% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,838,000 shares of the communications equipment provider’s stock valued at $20,859,000 after purchasing an additional 766,200 shares during the period. Finally, Gotham Asset Management LLC bought a new position in Mitel Networks Corporation in the second quarter valued at approximately $542,000. Institutional investors own 79.12% of the company’s stock.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Royal Bank Of Canada reissued a “hold” rating and issued a $8.50 price objective on shares of Mitel Networks Corporation in a research report on Thursday, November 2nd. National Bank Financial boosted their price objective on shares of Mitel Networks Corporation from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. BidaskClub downgraded shares of Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Finally, TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. One equities research 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’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.25.

Mitel Networks Corporation (NASDAQ:MITL) opened at $7.94 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.77 and a current ratio of 1.00. Mitel Networks Corporation has a one year low of $6.21 and a one year high of $9.13.

In other Mitel Networks Corporation news, Director John P. Mchugh sold 8,136 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $8.21, for a total transaction of $66,796.56. Following the completion of the sale, the director now owns 66,170 shares of the company’s stock, valued at approximately $543,255.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Associates L.P. Elliott sold 350,475 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $8.25, for a total transaction of $2,891,418.75. The disclosure for this sale can be found here. Insiders have sold 987,307 shares of company stock valued at $8,148,128 in the last ninety days. 16.50% of the stock is currently owned by company insiders.

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Mitel Networks Corporation 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.

Institutional Ownership by Quarter for Mitel Networks Corporation (NASDAQ:MITL)

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