Insider Selling in Mitel Networks (MITL) Shares Continues

Tuesday, September 19, 2017 10:15 PM ET

Insider Selling in Mitel Networks (MITL) Shares Continues

There was a notable sale of shares of Mitel Networks by an insider today, as indicated in a form 4 document filed with the SEC. One insider — Elliott Associates Lp, 10% Owner — sold 150,800 shares in the company having a market value of approximately $1,244,485. There have been 4 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been sales resulting in the sale of 1,241,197 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 1,391,997 shares and have averaged 278,399 shares per transaction over this time period.

During the last 90 days, the number of insider buy/sell trades at Mitel Networks is higher than the 62-company peer group average. Enterprise Software peer group saw 176 buy/sell trades during this period for an average of 2.8 transactions per company. The number of shares per buy/sell trade for Mitel Networks insiders was also higher. Within the peer group there were 972,550 shares purchased and 7,724,830 shares sold with company insiders disposing of 38,365 shares on average.

In determining significant insider buying and selling, trades reported to the SEC that involve awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers have been eliminated in data used to evaluate and write this story.

Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.

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