Alliancebernstein L.P. lowered its position in shares of ShoreTel, Inc. (NASDAQ:SHOR) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,610 shares of the communications equipment provider’s stock after selling 4,400 shares during the period. Alliancebernstein L.P.’s holdings in ShoreTel were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Princeton Alpha Management LP bought a new position in shares of ShoreTel during the first quarter worth $159,000. Stevens Capital Management LP bought a new position in shares of ShoreTel during the first quarter worth $174,000. American International Group Inc. increased its position in shares of ShoreTel by 7.1% in the first quarter. American International Group Inc. now owns 41,452 shares of the communications equipment provider’s stock worth $255,000 after buying an additional 2,757 shares during the period. FMR LLC bought a new position in shares of ShoreTel during the fourth quarter worth $307,000. Finally, Trexquant Investment LP increased its position in shares of ShoreTel by 63.4% in the first quarter. Trexquant Investment LP now owns 43,158 shares of the communications equipment provider’s stock worth $265,000 after buying an additional 16,745 shares during the period. Institutional investors own 86.37% of the company’s stock.

Shares of ShoreTel, Inc. (SHOR) traded down 0.67% during mid-day trading on Friday, reaching $7.45. 1,463,454 shares of the company’s stock were exchanged. ShoreTel, Inc. has a one year low of $5.55 and a one year high of $8.50. The company’s market capitalization is $510.45 million. The company’s 50-day moving average price is $6.39 and its 200-day moving average price is $6.35.

ShoreTel (NASDAQ:SHOR) last announced its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. ShoreTel had a negative net margin of 3.48% and a negative return on equity of 0.67%. The business had revenue of $95.72 million during the quarter, compared to analysts’ expectations of $90.69 million. On average, equities analysts expect that ShoreTel, Inc. will post $0.15 earnings per share for the current year.

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A number of analysts have commented on the stock. Northland Securities cut shares of ShoreTel from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $10.00 to $7.50 in a report on Friday, July 28th. BidaskClub raised shares of ShoreTel from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Lake Street Capital cut shares of ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 target price for the company. in a report on Monday, July 31st. Sidoti cut shares of ShoreTel from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Finally, William Blair cut shares of ShoreTel from an “outperform” rating to a “market perform” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. ShoreTel has a consensus rating of “Hold” and a consensus target price of $7.17.

ShoreTel Company Profile

ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.

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Institutional Ownership by Quarter for ShoreTel (NASDAQ:SHOR)

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