Paradigm Capital Management Inc. NY boosted its stake in ShoreTel, Inc. (NASDAQ:SHOR) by 34.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 998,700 shares of the communications equipment provider’s stock after buying an additional 257,100 shares during the quarter. Paradigm Capital Management Inc. NY owned approximately 1.46% of ShoreTel worth $5,792,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Park West Asset Management LLC boosted its stake in ShoreTel by 71.4% in the 1st quarter. Park West Asset Management LLC now owns 5,519,822 shares of the communications equipment provider’s stock valued at $33,947,000 after buying an additional 2,299,483 shares in the last quarter. Renaissance Technologies LLC boosted its stake in ShoreTel by 0.9% in the 1st quarter. Renaissance Technologies LLC now owns 3,472,684 shares of the communications equipment provider’s stock valued at $21,357,000 after buying an additional 30,400 shares in the last quarter. Vanguard Group Inc. boosted its stake in ShoreTel by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 3,352,212 shares of the communications equipment provider’s stock valued at $20,616,000 after buying an additional 349,040 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ShoreTel by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,897,499 shares of the communications equipment provider’s stock valued at $17,820,000 after buying an additional 166,986 shares in the last quarter. Finally, Cortina Asset Management LLC boosted its stake in ShoreTel by 3.7% in the 1st quarter. Cortina Asset Management LLC now owns 1,020,276 shares of the communications equipment provider’s stock valued at $6,275,000 after buying an additional 36,053 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

SHOR has been the topic of several recent analyst reports. ValuEngine lowered ShoreTel from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered ShoreTel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Northland Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of ShoreTel in a research note on Tuesday, July 4th. William Blair lowered ShoreTel from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 27th. Finally, Sidoti lowered ShoreTel from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $7.17.

Shares of ShoreTel, Inc. (NASDAQ SHOR) traded down 0.333% during mid-day trading on Tuesday, reaching $7.475. The company had a trading volume of 19,490 shares. The firm’s 50 day moving average is $7.33 and its 200-day moving average is $6.40. ShoreTel, Inc. has a 12-month low of $5.55 and a 12-month high of $8.50. The stock’s market capitalization is $512.16 million.

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

ILLEGAL ACTIVITY NOTICE: “ShoreTel, Inc. (SHOR) Position Increased by Paradigm Capital Management Inc. NY” was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.dailypolitical.com/2017/09/12/shoretel-inc-shor-position-increased-by-paradigm-capital-management-inc-ny.html.

About ShoreTel

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.

Want to see what other hedge funds are holding SHOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ShoreTel, Inc. (NASDAQ:SHOR).

Institutional Ownership by Quarter for ShoreTel (NASDAQ:SHOR)

Receive News & Ratings for ShoreTel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ShoreTel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.