Telenav, Inc. (TNAV) Raised to Sell at BidaskClub
BidaskClub upgraded shares of Telenav, Inc. (NASDAQ:TNAV) from a strong sell rating to a sell rating in a report published on Saturday morning.
Other equities research analysts also recently issued research reports about the stock. B. Riley reiterated a buy rating and issued a $11.00 target price on shares of Telenav in a research report on Monday, May 8th. Sidoti upgraded shares of Telenav from a neutral rating to a buy rating and set a $10.00 target price for the company in a research report on Friday, May 19th. Northland Securities set a $15.00 target price on shares of Telenav and gave the stock a buy rating in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of Telenav from a sell rating to a hold rating in a research report on Wednesday, July 5th. Finally, ValuEngine upgraded shares of Telenav from a sell rating to a hold rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Telenav currently has an average rating of Hold and an average price target of $12.00.
Shares of Telenav (TNAV) opened at 6.45 on Friday. The stock’s market capitalization is $283.45 million. The stock has a 50 day moving average price of $7.22 and a 200-day moving average price of $8.14. Telenav has a 52-week low of $4.80 and a 52-week high of $10.15.
Telenav (NASDAQ:TNAV) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Telenav had a negative net margin of 27.87% and a negative return on equity of 30.87%. The company had revenue of $40.29 million during the quarter, compared to the consensus estimate of $39.87 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The company’s revenue was down 15.6% compared to the same quarter last year. On average, equities research analysts predict that Telenav will post ($1.08) EPS for the current fiscal year.
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In other news, CFO Michael Strambi sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $8.31, for a total transaction of $41,550.00. Following the transaction, the chief financial officer now owns 37,613 shares in the company, valued at approximately $312,564.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.60% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. acquired a new position in Telenav during the second quarter worth $410,000. Castleark Management LLC increased its position in Telenav by 9.8% in the second quarter. Castleark Management LLC now owns 553,705 shares of the technology company’s stock worth $4,485,000 after buying an additional 49,222 shares in the last quarter. Susquehanna International Group LLP increased its position in Telenav by 21.0% in the second quarter. Susquehanna International Group LLP now owns 20,676 shares of the technology company’s stock worth $167,000 after buying an additional 3,595 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Telenav by 33.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 264,910 shares of the technology company’s stock worth $2,146,000 after buying an additional 66,278 shares in the last quarter. Finally, State Street Corp increased its position in Telenav by 9.5% in the second quarter. State Street Corp now owns 527,424 shares of the technology company’s stock worth $4,273,000 after buying an additional 45,895 shares in the last quarter. Institutional investors and hedge funds own 53.23% of the company’s stock.
Telenav Company Profile
TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.
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