Equities researchers at Craig Hallum assumed coverage on shares of Mitel Networks (NASDAQ:MITL) (TSE:MNW) in a research note issued on Thursday. The firm set a “buy” rating on the communications equipment provider’s stock.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Mitel Networks from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. TheStreet downgraded Mitel Networks from a “b” rating to a “c” rating in a research note on Tuesday, November 14th. National Bank Financial boosted their target price on Mitel Networks from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $8.50 price objective on shares of Mitel Networks in a research note on Thursday, November 2nd. Finally, BidaskClub downgraded Mitel Networks from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $11.25.

Mitel Networks (NASDAQ:MITL) opened at $7.35 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.94. Mitel Networks has a 52 week low of $6.21 and a 52 week high of $9.13.

In other news, major shareholder Associates L.P. Elliott sold 350,475 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $8.25, for a total value of $2,891,418.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard D. Mcbee acquired 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average cost of $8.00 per share, with a total value of $80,000.00. Following the purchase, the insider now directly owns 268,047 shares of the company’s stock, valued at $2,144,376. The disclosure for this purchase can be found here. Insiders sold 506,519 shares of company stock valued at $4,177,292 in the last ninety days. 16.50% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in MITL. Cullen Capital Management LLC acquired a new position in shares of Mitel Networks in the second quarter valued at approximately $125,000. FDx Advisors Inc. bought a new stake in Mitel Networks in the third quarter valued at approximately $125,000. Quantbot Technologies LP bought a new stake in Mitel Networks in the second quarter valued at approximately $143,000. Allianz Asset Management GmbH bought a new stake in Mitel Networks in the third quarter valued at approximately $146,000. Finally, 1st Global Advisors Inc. boosted its holdings in Mitel Networks by 1.4% in the second quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock valued at $174,000 after acquiring an additional 337 shares during the last quarter. 80.05% of the stock is owned by institutional investors.

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Mitel Networks 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.

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