Friday, March 09, 2018 10:15 PM ET
Insider Sale at Mitel Networks (MITL) Deemed Significant
There was a notable insider sale of Mitel Networks shares today, as indicated in a filing with the SEC as — Sir Terence H Matthews, Director and Officer — sold 843,397 shares in the company having a market value of approximately $6,865,252 This is the first insider buy/sell trade in the past 90 days.
Insider buy/sell trading at Mitel Networks is below the 64 peer company average over the last 90-day period. The Enterprise Software peer group saw 170 buy/sell trades during this period for an average of 2.7 transactions per company. However, the number of shares per buy/sell trade for Mitel Networks is higher. Within the peer group there were 548,162 shares purchased and 8,316,289 shares sold with company insiders disposing of 45,695 shares on average.
Significant insider buying and selling activity has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in data obtained in composing and writing this story.
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