Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) Chairman Terence H. Matthews sold 1,762 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $8.24, for a total transaction of $14,518.88. Following the completion of the sale, the chairman now owns 44,303 shares of the company’s stock, valued at approximately $365,056.72. The transaction was disclosed in a filing with the SEC, which is available through this link.

Mitel Networks Corporation (MITL) traded up 0.3693% during trading on Friday, reaching $8.1801. 109,852 shares of the company traded hands. The firm’s market capitalization is $967.27 million. The company’s 50-day moving average price is $7.61 and its 200 day moving average price is $7.11. Mitel Networks Corporation has a 52 week low of $6.21 and a 52 week high of $8.94.

Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) last released its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.14. The company had revenue of $238.60 million during the quarter, compared to the consensus estimate of $244.55 million. Mitel Networks Corporation had a positive return on equity of 4.69% and a negative net margin of 20.50%. Mitel Networks Corporation’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. On average, equities research analysts expect that Mitel Networks Corporation will post $0.71 EPS for the current year.

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Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Mitel Networks Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 3rd. TheStreet upgraded shares of Mitel Networks Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. National Bank Financial upgraded shares of Mitel Networks Corporation from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $7.50 to $10.00 in a research report on Friday, July 28th. Royal Bank Of Canada increased their price target 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. Finally, Zacks Investment Research lowered shares of Mitel Networks Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $9.25.

Large investors have recently added to or reduced their stakes in the stock. River Road Asset Management LLC purchased a new stake in Mitel Networks Corporation during the second quarter worth about $26,104,000. Investment Counselors of Maryland LLC purchased a new stake in Mitel Networks Corporation during the first quarter worth about $18,587,000. Sentry Investments Corp. purchased a new stake in Mitel Networks Corporation during the second quarter worth about $12,866,000. Ionic Capital Management LLC purchased a new stake in Mitel Networks Corporation during the first quarter worth about $7,128,000. Finally, Point72 Asset Management L.P. purchased a new stake in Mitel Networks Corporation during the first quarter worth about $5,741,000. Institutional investors and hedge funds own 78.92% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Mitel Networks Corporation (NASDAQ:MITL)

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