Sarbit Advisory Services Inc. acquired a new position in ShoreTel, Inc. (NASDAQ:SHOR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 300,000 shares of the communications equipment provider’s stock, valued at approximately $1,740,000. ShoreTel comprises approximately 0.5% of Sarbit Advisory Services Inc.’s portfolio, making the stock its 8th largest position. Sarbit Advisory Services Inc. owned approximately 0.44% of ShoreTel at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SHOR. Park West Asset Management LLC grew its stake in shares of ShoreTel by 71.4% in the first quarter. Park West Asset Management LLC now owns 5,519,822 shares of the communications equipment provider’s stock worth $33,947,000 after acquiring an additional 2,299,483 shares during the last quarter. Lapides Asset Management LLC acquired a new stake in shares of ShoreTel in the second quarter worth $2,832,000. Vanguard Group Inc. grew its stake in shares of ShoreTel by 11.6% in the first quarter. Vanguard Group Inc. now owns 3,352,212 shares of the communications equipment provider’s stock worth $20,616,000 after acquiring an additional 349,040 shares during the last quarter. FMR LLC grew its stake in shares of ShoreTel by 749.0% in the first quarter. FMR LLC now owns 365,050 shares of the communications equipment provider’s stock worth $2,245,000 after acquiring an additional 322,050 shares during the last quarter. Finally, Menta Capital LLC grew its stake in shares of ShoreTel by 85.2% in the second quarter. Menta Capital LLC now owns 611,481 shares of the communications equipment provider’s stock worth $3,547,000 after acquiring an additional 281,241 shares during the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.

ShoreTel (NASDAQ:SHOR) last issued its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $95.72 million for the quarter, compared to analyst estimates of $90.69 million.

Several equities research analysts have recently issued reports on the stock. Northland Securities restated a “buy” rating and issued a $10.00 price objective on shares of ShoreTel in a research note on Tuesday, July 4th. William Blair downgraded shares of ShoreTel from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 27th. Lake Street Capital downgraded shares of ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 price objective on the stock. in a research note on Monday, July 31st. Sidoti downgraded shares of ShoreTel from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of ShoreTel from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.17.

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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.

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Institutional Ownership by Quarter for ShoreTel (NASDAQ:SHOR)

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