Capital Fund Management S.A. Purchases Shares of 29,500 ShoreTel Inc. (SHOR)
Capital Fund Management S.A. bought a new position in ShoreTel Inc. (NASDAQ:SHOR) during the second quarter, Holdings Channel reports. The firm bought 29,500 shares of the company’s stock, valued at approximately $197,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Strs Ohio raised its position in shares of ShoreTel by 8.3% in the second quarter. Strs Ohio now owns 101,400 shares of the company’s stock worth $678,000 after buying an additional 7,800 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of ShoreTel during the second quarter worth about $340,000. Barclays PLC raised its position in shares of ShoreTel by 149.5% in the first quarter. Barclays PLC now owns 250,200 shares of the company’s stock worth $1,751,000 after buying an additional 149,900 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of ShoreTel by 10.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 346,336 shares of the company’s stock worth $2,577,000 after buying an additional 32,502 shares during the last quarter. Finally, Diker Management LLC acquired a new position in shares of ShoreTel during the first quarter worth about $670,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.
ShoreTel Inc. (NASDAQ:SHOR) traded down 0.84% during mid-day trading on Monday, hitting $7.11. 335,713 shares of the company traded hands. The firm’s market capitalization is $479.14 million. The firm has a 50 day moving average of $7.98 and a 200 day moving average of $7.27. ShoreTel Inc. has a one year low of $5.83 and a one year high of $10.56.
ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. ShoreTel had a negative net margin of 1.32% and a positive return on equity of 2.31%. The company had revenue of $94.60 million for the quarter, compared to analyst estimates of $90.57 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts expect that ShoreTel Inc. will post $0.01 earnings per share for the current fiscal year.
A number of brokerages have issued reports on SHOR. Zacks Investment Research upgraded shares of ShoreTel from a “sell” rating to a “hold” rating in a research report on Saturday, October 1st. William Blair reiterated a “buy” rating on shares of ShoreTel in a research report on Saturday, July 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $11.25.
In other news, SVP Bharath Oruganti sold 13,125 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $8.50, for a total value of $111,562.50. Following the sale, the senior vice president now owns 36,724 shares of the company’s stock, valued at $312,154. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.00% of the stock is currently owned by insiders.
ShoreTel Company Profile
Shoretel, Inc (ShoreTel) is engaged in the design, development, marketing and sale of business communication solutions. The Company provides business communication solutions, including integrated voice, video, data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5,000 users), with a Unified Communications platform.
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