Mitel Networks Corporation (NASDAQ:MITL) has been the object of insider buying and selling activity recently. David M. Williams, Director reported the purchase of 10,000 shares. The shares were purchased at an average price of $7.51. Williams now owns $1,652,200 of the stock per the Form 4 SEC filing. See Remarks Gregory James Hiscock disclosed the sale of 3,750 shares of (MITL). The shares were sold on June 8th for an average price of $7.34. The See Remarks now owns $62,852 of the stock according to the SEC filing.
Mahawa Vanessa Touray, Sr VP disclosed the sale of 127 shares of MITL stock. The shares were purchased at an average price of $6.59. The Sr VP now owns $13,911 of the stock per the Form 4 SEC filing.
Mitel Networks Corporation, launched on January 31, 2014, is a provider of business communications and collaboration software, services and solutions. The Business’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. The Business’s product portfolio includes premises and cloud-based enterprise communications infrastructure products and solutions, unified communications and collaboration (UCC) and contact center applications and a range of service offerings..
Here are some other firms who have updated their holdings. Morgan Stanley downsized its holdings by shedding 1,180 shares a decrease of 48.4% as of 03/31/2017. Morgan Stanley owns 1,260 shares with a value of $9,000. The total value of its holdings decreased 47.1%. Tower Research Capital LLC (trc) bolstered its stake by buying 1,939 shares an increase of 187.2% from 12/31/2016 to 03/31/2017. Tower Research Capital LLC (trc) now holds 2,975 shares worth $27,000. The value of the position overall is up by 285.7%.
As of the end of the quarter Goldman Sachs Group Inc had disposed of a total of 1,314 shares trimming its stake by 8.3%. The value of the company’s investment in Mitel Networks Corporation went from $108,000 to $101,000 a change of 6.5% quarter over quarter. As of quarter end Nwq Investment Management Company, LLC had bought 939,603 shares growing its holdings by 6.0%. The value of the total investment in Mitel Networks Corporation increased from $106,121,000 to $114,661,000 a change of $8,540,000 for the reporting period.
On September 27, 2016 National Bank Financial began coverage of MITL with a rating of “Outperform” and price target of $10.50. On May 9 Canaccord Genuity held the stock rating at “Buy” and raised the price expectation to $14.00 from $12.00.
February 3 investment analysts at Cormark Securities left the price objective at $12.50 but boost the company from Buy to Top Pick. On February 3 the company was upgraded to “Top Pick” from “Buy” and a price target of $12.50 was set in a statement from Cormark Securities.
The company is up by 1.61 percent from yesterday’s close. It is currently trading at $7.59 which is marginally over $6.87, the stock’s 50 day moving average and slightly over the 200 day moving average of $6.94. The 50 day moving average was up $0.76 or +11.09% and the 200 day average went up $0.69 or +9.89%.
As of the latest earnings report the EPS was $-1.77 and is estimated to be $0.79 for the current year with 122,729,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.22 and the next full year EPS is anticipated to be $0.81.
Short traders are more bearish on Mitel Networks Corporation recently if you watch the rise in short interest. The stock had a rise in short interest of 31.96% as of April 28, 2017 from the last reporting period. Short shares grew 244,597 over that timeframe. The short-interest ratio decreased to 2.2 and the short interest percentage is 0.01% as of April 28.