Menta Capital LLC Acquires 281,241 Shares of ShoreTel, Inc. (SHOR)
Menta Capital LLC grew its holdings in ShoreTel, Inc. (NASDAQ:SHOR) by 85.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 611,481 shares of the communications equipment provider’s stock after buying an additional 281,241 shares during the period. ShoreTel accounts for about 0.4% of Menta Capital LLC’s holdings, making the stock its 20th biggest holding. Menta Capital LLC owned 0.89% of ShoreTel worth $3,547,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. PEAK6 Investments L.P. raised its position in shares of ShoreTel by 92.9% in the first quarter. PEAK6 Investments L.P. now owns 22,686 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 10,927 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of ShoreTel in the second quarter valued at about $162,000. Stevens Capital Management LP acquired a new stake in shares of ShoreTel in the first quarter valued at about $174,000. Fox Run Management L.L.C. acquired a new stake in shares of ShoreTel in the second quarter valued at about $179,000. Finally, American International Group Inc. raised 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 valued at $255,000 after buying an additional 2,757 shares during the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.
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ShoreTel, Inc. (SHOR) traded up 0.67% during midday trading on Tuesday, reaching $7.50. 429,206 shares of the company traded hands. The firm’s market capitalization is $514.92 million. ShoreTel, Inc. has a 12 month low of $5.55 and a 12 month high of $8.41. The company’s 50-day moving average price is $7.48 and its 200 day moving average price is $6.44.
ShoreTel (NASDAQ:SHOR) last released its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. The company had revenue of $95.72 million for the quarter, compared to analyst estimates of $90.69 million. ShoreTel had a negative net margin of 3.48% and a negative return on equity of 0.67%. On average, equities analysts anticipate that ShoreTel, Inc. will post $0.15 earnings per share for the current year.
A number of brokerages have recently commented on SHOR. Zacks Investment Research cut shares of ShoreTel from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Northland Securities restated a “buy” rating and set a $10.00 price objective on shares of ShoreTel in a research report on Tuesday, July 4th. Sidoti cut shares of ShoreTel from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Lake Street Capital cut shares of ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 price objective for the company. in a research report on Monday, July 31st. Finally, ValuEngine cut shares of ShoreTel from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price 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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