BidaskClub downgraded shares of Mitel Networks (NASDAQ:MITL) (TSE:MNW) from a sell rating to a strong sell rating in a report published on Thursday.

A number of other brokerages have also commented on MITL. Zacks Investment Research raised Mitel Networks from a strong sell rating to a hold rating in a research note on Tuesday, December 5th. TheStreet lowered Mitel Networks from a b rating to a c rating in a research report on Tuesday, November 14th. Royal Bank Of Canada reissued a hold rating and set a $8.50 price objective on shares of Mitel Networks in a research report on Thursday, November 2nd. Finally, National Bank Financial raised their price objective on Mitel Networks from $10.00 to $14.00 and gave the company an outperform rating in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $11.25.

Shares of Mitel Networks (NASDAQ:MITL) traded up $0.22 during mid-day trading on Thursday, reaching $7.38. The company had a trading volume of 916,200 shares, compared to its average volume of 709,465. Mitel Networks has a 12 month low of $6.21 and a 12 month high of $9.13. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.94.

In related news, insider Richard D. Mcbee purchased 10,000 shares of Mitel Networks stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $80,000.00. Following the completion of the acquisition, the insider now directly owns 268,047 shares of the company’s stock, valued at $2,144,376. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gregory James Hiscock sold 3,125 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $8.14, for a total value of $25,437.50. Following the transaction, the insider now owns 6,063 shares of the company’s stock, valued at $49,352.82. The disclosure for this sale can be found here. Insiders have sold 534,644 shares of company stock valued at $4,406,479 in the last three months. Insiders own 16.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MITL. FDx Advisors Inc. purchased a new position in Mitel Networks in the 3rd quarter worth approximately $125,000. UBS Group AG lifted its holdings in Mitel Networks by 3.6% in the 1st quarter. UBS Group AG now owns 16,351 shares of the communications equipment provider’s stock worth $113,000 after purchasing an additional 570 shares in the last quarter. Cullen Capital Management LLC purchased a new position in Mitel Networks in the 2nd quarter worth approximately $125,000. Allianz Asset Management GmbH purchased a new position in Mitel Networks in the 3rd quarter worth approximately $146,000. Finally, Quantbot Technologies LP purchased a new position in Mitel Networks in the 2nd quarter worth approximately $143,000. Institutional investors and hedge funds own 80.05% of the company’s stock.

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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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