Marshall Wace LLP boosted its position in shares of Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) by 49.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 285,411 shares of the communications equipment provider’s stock after acquiring an additional 94,426 shares during the period. Marshall Wace LLP owned 0.23% of Mitel Networks worth $3,145,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its position in Mitel Networks by 44.8% during the second quarter. Cubist Systematic Strategies LLC now owns 28,702 shares of the communications equipment provider’s stock valued at $314,000 after acquiring an additional 8,883 shares during the last quarter. Toronto Dominion Bank increased its stake in Mitel Networks by 17.6% during the 2nd quarter. Toronto Dominion Bank now owns 37,319 shares of the communications equipment provider’s stock valued at $409,000 after purchasing an additional 5,598 shares in the last quarter. Natixis acquired a new position in Mitel Networks during the 2nd quarter valued at approximately $549,000. CIBC Asset Management Inc increased its stake in Mitel Networks by 38.2% during the 2nd quarter. CIBC Asset Management Inc now owns 53,951 shares of the communications equipment provider’s stock valued at $591,000 after purchasing an additional 14,917 shares in the last quarter. Finally, Mint Tower Capital Management B.V. acquired a new position in Mitel Networks during the 2nd quarter valued at approximately $615,000. 75.76% of the stock is owned by institutional investors.
Shares of Mitel Networks stock opened at $11.15 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19. Mitel Networks Corp has a 12-month low of $7.13 and a 12-month high of $11.31. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -27.88 and a beta of 1.83.
In other Mitel Networks news, insider Colin Ross Mcanuff sold 2,710 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $10.99, for a total transaction of $29,782.90. Following the transaction, the insider now owns 8,799 shares in the company, valued at approximately $96,701.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 4,370 shares of company stock worth $48,010 in the last 90 days. 5.60% of the stock is currently owned by company insiders.
MITL has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Mitel Networks from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. Zacks Investment Research upgraded shares of Mitel Networks from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, October 16th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Mitel Networks has an average rating of “Hold” and an average target price of $12.38.
ILLEGAL ACTIVITY WARNING: “Marshall Wace LLP Has $3.15 Million Position in Mitel Networks Corp (MITL)” was published by BBNS and is owned by of BBNS. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://baseballnewssource.com/2018/12/16/marshall-wace-llp-has-3-15-million-position-in-mitel-networks-corp-mitl/3085026.html.
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.
Receive News & Ratings for Mitel Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitel Networks and related companies with MarketBeat.com's FREE daily email newsletter.