Rgm Capital buys $50,412,235 stake in ShoreTel Inc (SHOR)

ShoreTel Inc (SHOR) : Rgm Capital scooped up 411,602 additional shares in ShoreTel Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 6,177,970 shares of ShoreTel Inc which is valued at $50,412,235.ShoreTel Inc makes up approximately 5.79% of Rgm Capital’s portfolio.

Other Hedge Funds, Including , Springbok Capital Management sold out all of its stake in SHOR during the most recent quarter. The investment firm sold 1,000 shares of SHOR which is valued $8,160. Citadel Advisors sold out all of its stake in SHOR during the most recent quarter. The investment firm sold 24,194 shares of SHOR which is valued $197,423.Rhumbline Advisers reduced its stake in SHOR by selling 14,856 shares or 16.77% in the most recent quarter. The Hedge Fund company now holds 73,734 shares of SHOR which is valued at $601,669.Acrospire Investment Management reduced its stake in SHOR by selling 6,396 shares or 64.38% in the most recent quarter. The Hedge Fund company now holds 3,539 shares of SHOR which is valued at $29,374. ShoreTel Inc makes up approx 0.02% of Acrospire Investment Management’s portfolio. Signaturefd added SHOR to its portfolio by purchasing 470 company shares during the most recent quarter which is valued at $3,450.

ShoreTel Inc opened for trading at $7.99 and hit $8.12 on the upside on Thursday, eventually ending the session at $8.12, with a gain of 1.25% or 0.1 points. The heightened volatility saw the trading volume jump to 2,75,858 shares. Company has a market cap of $544 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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