Thursday, September 28, 2017 10:15 PM ET
Insider Sales at Mitel Networks (MITL) are Significant and Extend the Selling Trend of Last Quarter
In SEC filings today Mitel Networks disclosed two insiders — Elliott Associates Lp, 10% Owner, and Elliott International Lp, 10% Owner — disposed of 651,971 shares in the company having a market value of approximately $5,381,500. There have been 4 insiders with buy/sell transactions in the past 90 days prior to these filings. All of these trades have been sales resulting in the disposition of 1,391,997 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 2,043,968 shares and have averaged 340,661 shares per transaction over this time period.
In relation to the peer group over the last 90 days, insider buy/sell trading at Mitel Networks is above the 62-company peer group average. Enterprise Software peer group saw 186 buy/sell trades during this period for an average of 3.0 transactions per company. The number of shares per buy/sell trade for Mitel Networks insiders was also higher. Within the peer group there were 1,000,308 shares purchased and 6,967,958 shares sold with company insiders having sold 32,084 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 sourced to evaluate and write this story.
Today’s Insider Activity
* Elliott Associates Lp, 10% Owner, sold 350,475 shares
* Elliott International Lp, 10% Owner, sold 301,496 shares
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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