Sidoti cut shares of Telenav, Inc. (NASDAQ:TNAV) from a buy rating to a neutral rating in a research report report published on Friday morning. The firm currently has $10.00 target price on the stock.
TNAV has been the topic of several other reports. FBR & Co set a $15.00 target price on Telenav and gave the company a buy rating in a research report on Wednesday, November 2nd. Zacks Investment Research upgraded Telenav from a hold rating to a buy rating and set a $9.00 target price on the stock in a research report on Wednesday, January 18th. Finally, B. Riley restated a buy rating and issued a $10.00 target price on shares of Telenav in a research report on Wednesday, November 2nd.
Telenav (NASDAQ:TNAV) opened at 9.25 on Friday. Telenav has a 1-year low of $4.47 and a 1-year high of $9.45. The firm’s market capitalization is $399.04 million. The company has a 50-day moving average price of $7.39 and a 200 day moving average price of $6.03.
Telenav (NASDAQ:TNAV) last posted its earnings results on Tuesday, November 1st. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.05. Telenav had a negative net margin of 18.63% and a negative return on equity of 22.85%. The business earned $42.23 million during the quarter, compared to analyst estimates of $42.05 million. During the same quarter in the prior year, the business earned ($0.27) earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities analysts anticipate that Telenav will post ($0.55) earnings per share for the current year.
In other news, Director Nokomis Capital, L.L.C. purchased 15,907 shares of the stock in a transaction dated Monday, November 7th. The shares were bought at an average cost of $4.99 per share, for a total transaction of $79,375.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Strambi sold 7,200 shares of Telenav stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $6.12, for a total value of $44,064.00. Following the transaction, the chief financial officer now owns 51,513 shares in the company, valued at $315,259.56. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 487,014 shares of company stock worth $2,733,671. 24.60% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of TNAV. Penn Capital Management Co. Inc. boosted its position in shares of Telenav by 123.4% in the third quarter. Penn Capital Management Co. Inc. now owns 769,678 shares of the company’s stock valued at $4,410,000 after buying an additional 425,173 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Telenav during the fourth quarter valued at about $901,000. BlackRock Fund Advisors boosted its position in shares of Telenav by 16.7% in the second quarter. BlackRock Fund Advisors now owns 842,790 shares of the company’s stock valued at $4,298,000 after buying an additional 120,432 shares during the period. Emerald Acquisition Ltd. bought a new stake in Telenav during the second quarter valued at $376,000. Finally, Vanguard Group Inc. raised its stake in Telenav by 4.5% in the second quarter. Vanguard Group Inc. now owns 974,842 shares of the company’s stock valued at $4,972,000 after buying an additional 41,685 shares in the last quarter. Institutional investors own 47.62% 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.