A number of other brokerages have also recently commented on TNAV. Zacks Investment Research cut Telenav from a buy rating to a hold rating in a report on Thursday, October 6th. B. Riley assumed coverage on Telenav in a report on Thursday, August 25th. They set a buy rating and a $15.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Telenav currently has a consensus rating of Hold and an average target price of $12.17.
Shares of Telenav (NASDAQ:TNAV) traded down 3.3317% during mid-day trading on Monday, reaching $5.8001. The company had a trading volume of 14,807 shares. The stock has a 50 day moving average of $5.65 and a 200-day moving average of $5.36. The company’s market capitalization is $247.70 million. Telenav has a 52 week low of $4.47 and a 52 week high of $7.62.
Telenav (NASDAQ:TNAV) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. Telenav had a negative return on equity of 22.62% and a negative net margin of 19.26%. The business earned $47.80 million during the quarter, compared to analysts’ expectations of $41.69 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. On average, analysts expect that Telenav will post ($0.58) earnings per share for the current fiscal year.
In related news, CEO H.P. Jin purchased 7,500 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was purchased at an average price of $5.38 per share, with a total value of $40,350.00. Following the completion of the acquisition, the chief executive officer now owns 1,357,269 shares in the company, valued at $7,302,107.22. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Strambi sold 8,500 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $5.45, for a total value of $46,325.00. Following the completion of the sale, the chief financial officer now directly owns 35,305 shares of the company’s stock, valued at approximately $192,412.25. The disclosure for this sale can be found here. 24.60% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Telenav by 2.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 36,540 shares of the company’s stock valued at $186,000 after buying an additional 730 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Telenav by 13.1% in the second quarter. Teachers Advisors Inc. now owns 47,031 shares of the company’s stock valued at $240,000 after buying an additional 5,452 shares during the period. AQR Capital Management LLC boosted its stake in Telenav by 18.9% in the second quarter. AQR Capital Management LLC now owns 51,230 shares of the company’s stock valued at $261,000 after buying an additional 8,153 shares during the period. Nationwide Fund Advisors boosted its stake in Telenav by 88.0% in the second quarter. Nationwide Fund Advisors now owns 56,007 shares of the company’s stock valued at $286,000 after buying an additional 26,222 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Telenav by 8.6% in the second quarter. Prudential Financial Inc. now owns 64,265 shares of the company’s stock valued at $328,000 after buying an additional 5,100 shares during the period. 46.83% of the stock is owned by hedge funds and other institutional investors.
Telenav Company Profile
TeleNav, Inc provides of location-based platform services consisting of map and navigation platform, and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers, auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications.
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