Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) Chairman Terence H. Matthews sold 1,878 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $7.94, for a total transaction of $14,911.32. Following the transaction, the chairman now owns 46,462 shares in the company, valued at approximately $368,908.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Mitel Networks Corporation (MITL) traded up $0.11 during midday trading on Friday, hitting $7.65. 855,400 shares of the company traded hands, compared to its average volume of 707,600. The company has a current ratio of 1.00, a quick ratio of 0.77 and a debt-to-equity ratio of 1.94. Mitel Networks Corporation has a twelve month low of $6.21 and a twelve month high of $9.13.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. 1st Global Advisors Inc. boosted its position 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. River Road Asset Management LLC acquired a new stake in shares of Mitel Networks Corporation during the 2nd quarter worth approximately $26,104,000. Sentry Investments Corp. acquired a new stake in Mitel Networks Corporation in the second quarter valued at approximately $12,866,000. Paradigm Capital Management Inc. NY boosted its position in Mitel Networks Corporation by 37.0% in 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 buying an additional 766,200 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in Mitel Networks Corporation in the second quarter valued at approximately $542,000. Institutional investors and hedge funds own 79.12% of the company’s stock.
MITL has been the topic of a number of analyst reports. TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. BidaskClub lowered shares of Mitel Networks Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded shares of Mitel Networks Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Royal Bank Of Canada restated a “hold” rating and set a $8.50 target price on shares of Mitel Networks Corporation in a research report on Thursday, November 2nd. Finally, National Bank Financial increased their target price 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Mitel Networks Corporation presently has an average rating of “Hold” and an average target price of $11.25.
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.
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