S. Muoio & CO. LLC purchased a new stake in Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 105,000 shares of the communications equipment provider’s stock, valued at approximately $1,152,000. S. Muoio & CO. LLC owned 0.09% of Mitel Networks as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of Mitel Networks by 90.0% during the 4th quarter. Wells Fargo & Company MN now owns 18,426 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 8,729 shares in the last quarter. 22NW LP acquired a new stake in shares of Mitel Networks during the 1st quarter worth approximately $234,000. Suntrust Banks Inc. acquired a new stake in Mitel Networks in the first quarter valued at approximately $235,000. Xact Kapitalforvaltning AB acquired a new stake in Mitel Networks in the second quarter valued at approximately $259,000. Finally, Sphinx Trading LP acquired a new stake in Mitel Networks in the second quarter valued at approximately $274,000. 81.64% of the stock is owned by institutional investors.

In other Mitel Networks news, Director Peter Charbonneau sold 10,460 shares of Mitel Networks stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $11.01, for a total value of $115,164.60. Following the sale, the director now owns 60,346 shares of the company’s stock, valued at $664,409.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Todd Abbott sold 2,448 shares of Mitel Networks stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $11.01, for a total transaction of $26,952.48. Following the completion of the sale, the executive vice president now directly owns 7,552 shares in the company, valued at approximately $83,147.52. The disclosure for this sale can be found here. Insiders have sold 43,019 shares of company stock valued at $472,596 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

MITL remained flat at $$11.01 during midday trading on Friday. 1,130,435 shares of the company’s stock traded hands, compared to its average volume of 979,622. Mitel Networks Corp has a 12-month low of $7.13 and a 12-month high of $11.31. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.31.

Mitel Networks (NASDAQ:MITL) (TSE:MNW) last issued its quarterly earnings data on Wednesday, August 1st. The communications equipment provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $324.70 million during the quarter. Mitel Networks had a negative net margin of 2.76% and a negative return on equity of 9.58%. equities analysts predict that Mitel Networks Corp will post -0.26 earnings per share for the current year.

A number of analysts have weighed in on MITL shares. BidaskClub lowered shares of Mitel Networks from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. ValuEngine downgraded shares of Mitel Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $13.05.

About Mitel Networks

Mitel Networks Corporation provides cloud and on-site business communications and collaboration software, services, and solutions. It operates in two segments, Enterprise and Cloud. The Enterprise segment sells and supports products and services for premise-based customers, including its premise-based IP and TDM telephony platforms; desktop devices, and unified communications and collaborations (UCC); and contact center applications that are deployed on the customer's premise under the MiVoice brand.

Further Reading: Moving Average (MA)

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

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