Ancora Advisors adds ShoreTel Inc (SHOR) to its portfolio

ShoreTel Inc (SHOR) : Ancora Advisors added new position in ShoreTel Inc during the most recent quarter end. The investment management firm now holds 1,151,150 shares of ShoreTel Inc which is valued at $9,393,384 , the company said in a statement filed on Aug 11, 2016 with the SEC.ShoreTel Inc makes up approximately 1.06% of Ancora Advisors’s portfolio.

Other Hedge Funds, Including , King Luther Capital Management Corp added SHOR to its portfolio by purchasing 25,000 company shares during the most recent quarter which is valued at $204,000.California State Teachers Retirement System boosted its stake in SHOR in the latest quarter, The investment management firm added 4,360 additional shares and now holds a total of 141,100 shares of ShoreTel Inc which is valued at $1,049,784. Capital Fund Management S.a. added SHOR to its portfolio by purchasing 29,500 company shares during the most recent quarter which is valued at $219,775.Acadian Asset Management reduced its stake in SHOR by selling 680,803 shares or 94.82% in the most recent quarter. The Hedge Fund company now holds 37,161 shares of SHOR which is valued at $280,194.

ShoreTel Inc opened for trading at $8.17 and hit $8.22 on the upside on Tuesday, eventually ending the session at $8.1, with a gain of 0.12% or 0.01 points. The heightened volatility saw the trading volume jump to 2,86,544 shares. Company has a market cap of $543 M.

On the company’s financial health, ShoreTel Inc reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.00. The company had revenue of $94.59 million for the quarter, compared to analysts expectations of $90.31 million. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS.

Shoretel Inc. (ShoreTel) is engaged in the design development marketing and sale of business communication solutions. The Company provides business communication solutions including integrated voice video data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5000 users) with a Unified Communications platform. It provides ShoreTel solution through multiple deployment options as well as a set of applications and services for both premise and hosted deployment models consisting of ShoreTel IP Telephony ShoreTel Unified Communications ShoreTel Contact Center ShoreTel Mobility and professional services including ShoreTel Global Services and application and development professional services. It offers services including soft-switch services for ShoreTel IP Telephony as well as integrated software modules for business intelligence analytics and reporting.

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