Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Mitel Networks Corporation (MITL) Gaining Ground on M&A News

Mitel Networks Corporation (NASDAQ:MITLis 7% higher on the news that its merger partner, Polycom Inc (NASDAQ:PLCM), might have a second suitor. According to the Wall Street Journal, a private equity firm has made a revised bid for Polycom that might be constituted as superior to Mitel Networks Corporation (NASDAQ:MITL)’s current bid. Polycom and Mitel previously agreed to combine on April 15 in a transaction that received unanimous support of both Boards of Directors. Under the terms of the transaction, Polycom shareholders would own 60% of the combined company. Traders could be buying because of relative valuation, and are likely crossing their fingers in hopes that Mitel doesn’t try to raise its bid to a point that destroys shareholder value.

Is Mitel Networks Corporation (NASDAQ:MITL) worth your attention right now? Investors who are in the know are getting less bullish. The number of bullish hedge fund positions decreased by three lately. MITL was in six hedge funds’ portfolios at the end of March. There were nine hedge funds in our database with MITL holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Caesars Entertainment Corp (NASDAQ:CZR), iKang Healthcare Group Inc (ADR) (NASDAQ:KANG), and PennyMac Mortgage Investment Trust (NYSE:PMT) to gather more data points.

Follow Mitel Networks Corp (NASDAQ:MITL)
Trade (NASDAQ:MITL) Now!

In the 21st century investor’s toolkit there are a lot of indicators stock traders put to use to grade stocks. Some of the most under-the-radar indicators are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the top picks of the elite hedge fund managers can outpace the S&P 500 by a solid margin (see the details here).

With all of this in mind, we’re going to take a gander at the fresh action regarding Mitel Networks Corporation (NASDAQ:MITL).

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.