Legal & General Group Plc lowered its stake in ShoreTel, Inc. (NASDAQ:SHOR) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,533 shares of the communications equipment provider’s stock after selling 695 shares during the period. Legal & General Group Plc’s holdings in ShoreTel were worth $108,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Princeton Alpha Management LP acquired a new stake in ShoreTel during the first quarter valued at about $159,000. Stevens Capital Management LP purchased a new position in shares of ShoreTel during the first quarter worth $174,000. American International Group Inc. boosted 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 last quarter. Trexquant Investment LP boosted 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 last quarter. Finally, Paragon Capital Management Ltd purchased a new position in shares of ShoreTel during the first quarter worth $278,000. Institutional investors and hedge funds own 87.17% of the company’s stock.
Shares of ShoreTel, Inc. (NASDAQ:SHOR) remained flat at $7.45 on Friday. 584,570 shares of the company’s stock were exchanged. The firm’s market capitalization is $510.45 million. ShoreTel, Inc. has a 52-week low of $5.55 and a 52-week high of $8.50. The stock has a 50-day moving average of $6.60 and a 200 day moving average of $6.36.
ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $90.69 million. Equities analysts predict that ShoreTel, Inc. will post $0.15 EPS for the current year.
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SHOR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded ShoreTel from a “hold” rating to a “strong-buy” rating and set a $7.75 target price on the stock in a report on Wednesday, May 3rd. ValuEngine cut ShoreTel from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Northland Securities reiterated a “buy” rating and issued a $10.00 target price on shares of ShoreTel in a report on Tuesday, July 4th. William Blair cut ShoreTel from an “outperform” rating to a “market perform” rating in a report on Thursday, July 27th. Finally, Sidoti cut ShoreTel from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.17.
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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