Insider Selling: ShoreTel Director Sells 5,600 Shares of Stock (SHOR)
ShoreTel (NASDAQ:SHOR) Director Kenneth D. Denman sold 5,600 shares of ShoreTel stock on the open market in a transaction dated Friday, May 23rd. The shares were sold at an average price of $6.87, for a total transaction of $38,472.00. Following the sale, the director now directly owns 88,043 shares of the company’s stock, valued at approximately $604,855. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of ShoreTel (NASDAQ:SHOR) opened at 6.92 on Wednesday. ShoreTel has a one year low of $3.52 and a one year high of $9.81. The stock has a 50-day moving average of $7.35 and a 200-day moving average of $8.20. The company’s market cap is $432.7 million.
ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.02. The company had revenue of $82.40 million for the quarter, compared to the consensus estimate of $82.66 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that ShoreTel will post $0.21 EPS for the current fiscal year.
ShoreTel, Inc is a provider of business communication solutions. The Company’s unified communications (NASDAQ:SHOR) and contact center solutions are based on its Internet protocol (IP) business phone system (IP-PBX).
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