Telenav Inc. (TNAV) Stock Rating Lowered by Zacks Investment Research
Telenav Inc. (NASDAQ:TNAV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “
Separately, B. Riley reaffirmed a “buy” rating and set a $10.00 price target on shares of Telenav in a research note on Saturday, August 6th.
Shares of Telenav (NASDAQ:TNAV) opened at 5.83 on Thursday. The firm’s market cap is $248.98 million. Telenav has a 52 week low of $4.47 and a 52 week high of $7.75. The stock’s 50 day moving average is $5.61 and its 200 day moving average is $5.36.
Telenav (NASDAQ:TNAV) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.05. Telenav had a negative net margin of 19.26% and a negative return on equity of 22.62%. The firm had revenue of $47.80 million for the quarter, compared to the consensus estimate of $41.69 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Telenav will post ($0.58) earnings per share for the current fiscal year.
In related news, CEO H.P. Jin bought 7,500 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was bought at an average price of $5.38 per share, with a total value of $40,350.00. Following the transaction, the chief executive officer now owns 1,357,269 shares of the company’s stock, valued at $7,302,107.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Strambi sold 8,500 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $5.45, for a total transaction 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. Corporate insiders own 27.85% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased 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 last quarter. Penn Capital Management Co. Inc. bought a new stake in Telenav during the second quarter valued at $1,757,000. Teachers Advisors Inc. increased 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 last quarter. AXA increased its stake in Telenav by 5.4% in the second quarter. AXA now owns 149,344 shares of the company’s stock valued at $762,000 after buying an additional 7,644 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Telenav by 6.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 406,565 shares of the company’s stock valued at $2,073,000 after buying an additional 25,997 shares during the last quarter. 47.29% of the stock is owned by 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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