PineBridge Investments L.P. boosted its stake in Mitel Networks Corp. (NASDAQ:MITL) by 653.2% during the second quarter, Holdings Channel reports. The fund owned 58,318 shares of the company’s stock after buying an additional 50,575 shares during the period. PineBridge Investments L.P.’s holdings in Mitel Networks Corp. were worth $473,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MITL. NWQ Investment Management Company LLC boosted its stake in Mitel Networks Corp. by 4.4% in the first quarter. NWQ Investment Management Company LLC now owns 12,723,384 shares of the company’s stock valued at $104,077,000 after buying an additional 540,055 shares during the last quarter. Elliott Management Corp boosted its position in shares of Mitel Networks Corp. by 1.9% in the first quarter. Elliott Management Corp now owns 11,768,719 shares of the company’s stock valued at $96,268,000 after buying an additional 219,848 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Mitel Networks Corp. by 1.0% in the first quarter. Royal Bank of Canada now owns 3,904,703 shares of the company’s stock valued at $31,940,000 after buying an additional 38,909 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Mitel Networks Corp. by 49.8% in the first quarter. 1832 Asset Management L.P. now owns 2,632,457 shares of the company’s stock valued at $36,159,000 after buying an additional 875,157 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its position in shares of Mitel Networks Corp. by 1.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,460,500 shares of the company’s stock valued at $15,476,000 after buying an additional 37,000 shares in the last quarter. Institutional investors own 83.03% of the company’s stock.

Mitel Networks Corp. (NASDAQ:MITL) opened at 7.34 on Tuesday. The firm’s market capitalization is $892.52 million. The stock’s 50 day moving average price is $7.61 and its 200 day moving average price is $7.11. Mitel Networks Corp. has a one year low of $5.81 and a one year high of $8.90.

Mitel Networks Corp. (NASDAQ:MITL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. Mitel Networks Corp. had a negative net margin of 3.91% and a positive return on equity of 12.57%. The firm had revenue of $307.20 million for the quarter, compared to the consensus estimate of $292.05 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts expect that Mitel Networks Corp. will post $0.63 EPS for the current year.

About Mitel Networks Corp.

Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company operates through three segments: Enterprise, Cloud and Mobile. 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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