Keeley Teton Advisors LLC decreased its stake in shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 18.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,292,361 shares of the communications equipment provider’s stock after selling 750,120 shares during the period. Mitel Networks accounts for approximately 1.5% of Keeley Teton Advisors LLC’s holdings, making the stock its 13th biggest holding. Keeley Teton Advisors LLC owned about 2.74% of Mitel Networks worth $27,623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. 1st Global Advisors Inc. lifted its position in Mitel Networks 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 buying an additional 337 shares in the last quarter. UBS Group AG lifted its position in Mitel Networks by 3.6% during the 1st quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 570 shares in the last quarter. Bank of Montreal Can lifted its position in Mitel Networks by 2.6% during the 2nd quarter. Bank of Montreal Can now owns 124,962 shares of the communications equipment provider’s stock worth $918,000 after buying an additional 3,156 shares in the last quarter. FMR LLC lifted its position in Mitel Networks by 2.2% during the 2nd quarter. FMR LLC now owns 202,800 shares of the communications equipment provider’s stock worth $1,491,000 after buying an additional 4,310 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Mitel Networks by 1.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 269,863 shares of the communications equipment provider’s stock worth $1,980,000 after buying an additional 4,627 shares in the last quarter. Institutional investors and hedge funds own 80.05% of the company’s stock.

Shares of Mitel Networks Corporation (NASDAQ MITL) opened at $7.44 on Wednesday. Mitel Networks Corporation has a twelve month low of $6.21 and a twelve month high of $9.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.00 and a quick ratio of 0.77.

Several analysts have weighed in on the company. Zacks Investment Research cut Mitel Networks from a “hold” rating to a “strong sell” rating in a report on Thursday, November 9th. National Bank Financial boosted their price objective on Mitel Networks from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. BidaskClub cut Mitel Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Royal Bank Of Canada reissued a “hold” rating and set a $8.50 price objective on shares of Mitel Networks in a report on Thursday, November 2nd. Finally, TheStreet cut Mitel Networks from a “b” rating to a “c” rating in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $11.25.

In other news, major shareholder Associates L.P. Elliott sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $8.15, for a total value of $203,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard D. Mcbee purchased 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $8.00 per share, with a total value of $80,000.00. Following the completion of the purchase, the insider now owns 268,047 shares in the company, valued at $2,144,376. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 534,644 shares of company stock valued at $4,406,479. 16.50% of the stock is currently owned by company insiders.

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

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