OxFORD Asset Management LLP boosted its holdings in shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) by 890.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 762,620 shares of the communications equipment provider’s stock after acquiring an additional 685,592 shares during the quarter. OxFORD Asset Management LLP owned 0.64% of Mitel Networks worth $6,334,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in Mitel Networks during the 3rd quarter valued at $554,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Mitel Networks in the 3rd quarter worth $5,761,000. Trexquant Investment LP lifted its holdings in shares of Mitel Networks by 326.9% in the 3rd quarter. Trexquant Investment LP now owns 44,029 shares of the communications equipment provider’s stock worth $369,000 after buying an additional 33,716 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Mitel Networks in the 3rd quarter worth $588,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Mitel Networks in the 3rd quarter worth $883,000. Institutional investors own 80.05% of the company’s stock.
MITL has been the subject of several research reports. Zacks Investment Research upgraded Mitel Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday. TheStreet cut Mitel Networks from a “b” rating to a “c” rating in a report on Tuesday, November 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $8.50 target price on shares of Mitel Networks in a report on Thursday, November 2nd. BidaskClub cut Mitel Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Finally, National Bank Financial upped their target price on Mitel Networks from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Mitel Networks presently has an average rating of “Buy” and a consensus price target of $11.25.
Shares of Mitel Networks Corporation (NASDAQ MITL) opened at $7.65 on Tuesday. Mitel Networks Corporation has a 1-year low of $6.21 and a 1-year high of $9.13. The company has a current ratio of 1.00, a quick ratio of 0.77 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, with a total value of $80,000.00. Following the transaction, the insider now owns 268,047 shares in the company, valued at approximately $2,144,376. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter Charbonneau sold 32,668 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $8.02, for a total value of $261,997.36. Following the completion of the transaction, the director now directly owns 64,943 shares of the company’s stock, valued at $520,842.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 567,312 shares of company stock valued at $4,668,476. Corporate insiders own 16.50% of the company’s stock.
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About Mitel Networks
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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