ShoreTel, Inc. (SHOR) Shares Bought by Park West Asset Management LLC

Park West Asset Management LLC raised its position in ShoreTel, Inc. (NASDAQ:SHOR) by 71.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,519,822 shares of the communications equipment provider’s stock after buying an additional 2,299,483 shares during the period. ShoreTel comprises about 2.0% of Park West Asset Management LLC’s portfolio, making the stock its 16th largest position. Park West Asset Management LLC owned about 8.08% of ShoreTel worth $33,947,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of ShoreTel by 3.3% in the first quarter. Wells Fargo & Company MN now owns 47,472 shares of the communications equipment provider’s stock worth $292,000 after buying an additional 1,500 shares during the last quarter. Oberweis Asset Management Inc. raised its stake in shares of ShoreTel by 3.1% in the fourth quarter. Oberweis Asset Management Inc. now owns 77,300 shares of the communications equipment provider’s stock worth $553,000 after buying an additional 2,300 shares during the last quarter. American International Group Inc. raised its stake 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 last quarter. United Services Automobile Association raised its stake in shares of ShoreTel by 1.2% in the first quarter. United Services Automobile Association now owns 286,640 shares of the communications equipment provider’s stock worth $1,763,000 after buying an additional 3,500 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of ShoreTel by 9.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,904 shares of the communications equipment provider’s stock worth $270,000 after buying an additional 3,760 shares during the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.

Institutional Ownership by Quarter for ShoreTel (NASDAQ:SHOR)

ShoreTel, Inc. (NASDAQ:SHOR) remained flat at $5.90 during midday trading on Tuesday. The stock had a trading volume of 334,380 shares. ShoreTel, Inc. has a 52-week low of $5.55 and a 52-week high of $8.56. The stock’s market cap is $402.82 million. The company has a 50 day moving average of $6.14 and a 200-day moving average of $6.57.

ShoreTel (NASDAQ:SHOR) last announced its earnings results on Wednesday, April 26th. The communications equipment provider reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.06. ShoreTel had a negative return on equity of 1.15% and a negative net margin of 3.43%. The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $84.03 million. During the same period last year, the business posted ($0.06) EPS. The company’s revenue was up 2.9% on a year-over-year basis. Equities research analysts anticipate that ShoreTel, Inc. will post $0.06 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “ShoreTel, Inc. (SHOR) Shares Bought by Park West Asset Management LLC” was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://sportsperspectives.com/2017/06/20/shoretel-inc-shor-shares-bought-by-park-west-asset-management-llc.html.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded ShoreTel from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research note on Wednesday, May 3rd. ValuEngine lowered ShoreTel from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $7.75.

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.

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.

Latest News

Leave a Reply