Mitel Networks Corporation (MITL) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 31.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,800 shares of the communications equipment provider’s stock after purchasing an additional 18,400 shares during the period. Tokio Marine Asset Management Co. Ltd. owned approximately 0.07% of Mitel Networks Corporation worth $653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MITL. 1st Global Advisors Inc. boosted its position in shares of Mitel Networks Corporation by 1.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock worth $174,000 after buying an additional 337 shares in the last quarter. UBS Group AG lifted its holdings in Mitel Networks Corporation by 3.6% in the 1st quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock valued at $113,000 after purchasing an additional 570 shares in the last quarter. Bank of Montreal Can lifted its holdings in Mitel Networks Corporation by 2.6% in the 2nd quarter. Bank of Montreal Can now owns 124,962 shares of the communications equipment provider’s stock valued at $918,000 after purchasing an additional 3,156 shares in the last quarter. FMR LLC lifted its holdings in Mitel Networks Corporation by 2.2% in the 2nd quarter. FMR LLC now owns 202,800 shares of the communications equipment provider’s stock valued at $1,491,000 after purchasing an additional 4,310 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Mitel Networks Corporation by 1.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 269,863 shares of the communications equipment provider’s stock valued at $1,980,000 after purchasing an additional 4,627 shares in the last quarter. Institutional investors own 79.36% of the company’s stock.

In related news, major shareholder Associates L.P. Elliott sold 350,475 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $8.25, for a total transaction of $2,891,418.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory James Hiscock sold 3,125 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $8.14, for a total transaction of $25,437.50. Following the completion of the sale, the insider now directly owns 6,063 shares of the company’s stock, valued at approximately $49,352.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,805,691 shares of company stock valued at $14,974,444. Corporate insiders own 16.50% of the company’s stock.

A number of research analysts have issued reports on MITL shares. Zacks Investment Research lowered shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. National Bank Financial raised shares of Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $7.50 to $10.00 in a research note on Friday, July 28th. TheStreet raised shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. Royal Bank Of Canada upped their price objective on shares of Mitel Networks Corporation from $7.50 to $8.50 and gave the company a “sector perform” rating in a research note on Friday, July 28th. Finally, BidaskClub downgraded shares of Mitel Networks Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $11.25.

Shares of Mitel Networks Corporation (NASDAQ:MITL) opened at $8.54 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.35 and a debt-to-equity ratio of 0.74.

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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.

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

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