Los Angeles Capital Management & Equity Research Inc. boosted its stake in ShoreTel, Inc. (NASDAQ:SHOR) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,743 shares of the communications equipment provider’s stock after buying an additional 390 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.16% of ShoreTel worth $642,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. PEAK6 Investments L.P. lifted its holdings in ShoreTel by 92.9% in the first quarter. PEAK6 Investments L.P. now owns 22,686 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 10,927 shares during the period. Marshall Wace North America L.P. purchased a new stake in ShoreTel in the second quarter worth about $162,000. Stevens Capital Management LP purchased a new stake in ShoreTel in the first quarter worth about $174,000. Fox Run Management L.L.C. purchased a new stake in ShoreTel in the second quarter worth about $179,000. Finally, American International Group Inc. lifted its holdings in 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 period. Institutional investors and hedge funds own 87.35% of the company’s stock.

ShoreTel, Inc. (SHOR) opened at 7.50 on Friday. The stock’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 stock’s 50 day moving average is $7.48 and its 200 day moving average is $6.45.

ShoreTel (NASDAQ:SHOR) last announced its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, topping 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 firm had revenue of $95.72 million during the quarter, compared to analysts’ expectations of $90.69 million. Equities analysts predict that ShoreTel, Inc. will post $0.15 earnings per share for the current fiscal year.

Several analysts have commented on the stock. Lake Street Capital lowered shares of ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 price objective for the company. in a report on Monday, July 31st. Northland Securities lowered shares of ShoreTel from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $10.00 to $7.50 in a report on Friday, July 28th. Sidoti lowered shares of ShoreTel from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. BidaskClub upgraded shares of ShoreTel from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of ShoreTel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. ShoreTel currently has a consensus rating of “Hold” and an average price target 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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