Francisco Partners Management Lp Lowers stake in Mitel Networks Corp (MITL)

Mitel Networks Corp (MITL) : Francisco Partners Management Lp reduced its stake in Mitel Networks Corp by 20.0% during the most recent quarter end. The investment management company now holds a total of 6,427,317 shares of Mitel Networks Corp which is valued at $44,027,121 after selling 1,606,623 shares in Mitel Networks Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Mitel Networks Corp makes up approximately 16.22% of Francisco Partners Management Lp’s portfolio.

Other Hedge Funds, Including , Massachusetts Financial Services Co added MITL to its portfolio by purchasing 1,704,893 company shares during the most recent quarter which is valued at $11,678,517. Mitel Networks Corp makes up approx 0.01% of Massachusetts Financial Services Co’s portfolio. Citadel Advisors sold out all of its stake in MITL during the most recent quarter. The investment firm sold 26,155 shares of MITL which is valued $172,623.Acrospire Investment Management boosted its stake in MITL in the latest quarter, The investment management firm added 17,900 additional shares and now holds a total of 21,970 shares of Mitel Networks Corp which is valued at $145,002. Mitel Networks Corp makes up approx 0.10% of Acrospire Investment Management’s portfolio. Thompson Davis added MITL to its portfolio by purchasing 745 company shares during the most recent quarter which is valued at $4,857. Mitel Networks Corp makes up approx 0.01% of Thompson Davis’s portfolio.Cibc Asset Management Inc boosted its stake in MITL in the latest quarter, The investment management firm added 326,770 additional shares and now holds a total of 880,535 shares of Mitel Networks Corp which is valued at $6,022,859. Mitel Networks Corp makes up approx 0.04% of Cibc Asset Management Inc’s portfolio.

Mitel Networks Corp closed down -0.05 points or -0.72% at $6.9 with 1,58,537 shares getting traded on Monday. Post opening the session at $6.98, the shares hit an intraday low of $6.88 and an intraday high of $6.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Mitel Networks Corp reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.11. The company had revenue of $279.80 million for the quarter, compared to analysts expectations of $286.62 million. The company’s revenue was down -4.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.12 EPS.

Mitel Networks Corporation (Mitel) is a global provider of business communications and collaboration software services and solutions. The Company operates in two segments: Premise and Cloud. The Premise 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. Mitel offers portfolios of business communications solutions which are known as unified communications and collaboration (UCC). It also offers cloud-based telephony services and network services in the United States and in select markets across the globe. It operates in three geographic markets: Americas which includes the United States Canada the Caribbean and Latin America; EMEA which includes the continent of Europe the Middle East and Africa and Asia Pacific which includes the continent of Asia and the Pacific region including Australia and New Zealand.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Mitel Networks Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Mitel Networks Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.