FBR & Co started coverage on shares of Telenav Inc. (NASDAQ:TNAV) in a research note released on Monday. The brokerage issued an outperform rating and a $15.00 price target on the stock.

Several other research analysts have also recently issued reports on TNAV. Zacks Investment Research raised Telenav from a sell rating to a hold rating in a research report on Friday, July 1st. B. Riley reissued a buy rating and issued a $10.00 target price on shares of Telenav in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $12.17.

Shares of Telenav (NASDAQ:TNAV) traded down 3.3317% during trading on Monday, hitting $5.8001. 14,807 shares of the company were exchanged. Telenav has a 1-year low of $4.47 and a 1-year high of $7.62. The company has a 50 day moving average of $5.65 and a 200-day moving average of $5.36. The stock’s market capitalization is $247.70 million.

Telenav (NASDAQ:TNAV) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $47.80 million for the quarter, compared to analysts’ expectations of $41.69 million. Telenav had a negative return on equity of 22.62% and a negative net margin of 19.26%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm posted ($0.12) earnings per share. On average, analysts forecast that Telenav will post ($0.58) earnings per share for the current year.

In other news, General Counsel Loren E. Hillberg sold 6,242 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $5.93, for a total value of $37,015.06. Following the transaction, the general counsel now owns 2,132 shares of the company’s stock, valued at $12,642.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H.P. Jin acquired 7,500 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was bought at an average cost of $5.38 per share, for a total transaction of $40,350.00. Following the purchase, the chief executive officer now directly owns 1,357,269 shares of the company’s stock, valued at $7,302,107.22. The disclosure for this purchase can be found here. 24.60% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. acquired a new stake in shares of Telenav during the first quarter valued at about $349,000. Keane Capital Partners LLC acquired a new stake in shares of Telenav during the first quarter valued at about $1,319,000. Springbok Capital Management LLC increased its stake in shares of Telenav by 0.6% in the first quarter. Springbok Capital Management LLC now owns 81,501 shares of the company’s stock valued at $481,000 after buying an additional 450 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of 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 during the period. Finally, Granite Point Capital Management L.P. acquired a new stake in shares of Telenav during the second quarter valued at about $639,000. 46.83% of the stock is currently owned by institutional investors.

About Telenav

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.

5 Day Chart for NASDAQ:TNAV

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