Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) will release its earnings data before the market opens on Thursday, November 2nd.
Shares of Mitel Networks Corporation (MITL) opened at 8.59 on Wednesday. The company’s market cap is $1.02 billion. The firm has a 50-day moving average of $8.45 and a 200 day moving average of $7.69. Mitel Networks Corporation has a 52 week low of $6.21 and a 52 week high of $9.13.
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In other Mitel Networks Corporation news, major shareholder Associates L.P. Elliott sold 154,184 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $8.29, for a total transaction of $1,278,185.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Gerald Lokar sold 18,736 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $8.64, for a total transaction of $161,879.04. Following the sale, the insider now owns 14,752 shares of the company’s stock, valued at approximately $127,457.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,805,691 shares of company stock valued at $14,974,444 in the last 90 days. 16.50% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in Mitel Networks Corporation stock. State Street Corp raised its holdings in shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,946 shares of the communications equipment provider’s stock after purchasing an additional 6,785 shares during the quarter. State Street Corp owned 0.11% of Mitel Networks Corporation worth $939,000 as of its most recent SEC filing. 79.36% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on MITL. BidaskClub downgraded shares of Mitel Networks Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada boosted their target price on shares of Mitel Networks Corporation from $7.50 to $8.50 and gave the company a “sector perform” rating in a research report on Friday, July 28th. National Bank Financial boosted their target price on shares of Mitel Networks Corporation from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Mitel Networks Corporation currently has a consensus rating of “Buy” and a consensus target price of $11.25.
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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