Telenav (NASDAQ:TNAV) posted its quarterly earnings results on Thursday. The technology company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.14, Fidelity Earnings reports. The firm had revenue of $52.17 million during the quarter, compared to the consensus estimate of $51.74 million. Telenav had a negative return on equity of 129.39% and a negative net margin of 83.93%. Telenav updated its Q2 2019 guidance to EPS.
TNAV stock traded down $0.20 during mid-day trading on Friday, reaching $4.14. The company had a trading volume of 118,900 shares, compared to its average volume of 71,336. The company has a market cap of $192.30 million, a price-to-earnings ratio of -2.12 and a beta of 0.79. Telenav has a 52 week low of $4.08 and a 52 week high of $6.60.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Telenav by 1.3% in the third quarter. BlackRock Inc. now owns 1,688,150 shares of the technology company’s stock valued at $8,526,000 after purchasing an additional 22,342 shares in the last quarter. Wasatch Advisors Inc. bought a new position in shares of Telenav during the 3rd quarter worth approximately $2,706,000. Northern Trust Corp boosted its stake in shares of Telenav by 5.7% during the 2nd quarter. Northern Trust Corp now owns 349,901 shares of the technology company’s stock worth $1,960,000 after acquiring an additional 18,858 shares during the period. Divisar Capital Management LLC boosted its stake in shares of Telenav by 2.0% during the 2nd quarter. Divisar Capital Management LLC now owns 3,909,155 shares of the technology company’s stock worth $21,891,000 after acquiring an additional 78,021 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Telenav during the 2nd quarter worth approximately $415,000. Hedge funds and other institutional investors own 51.79% of the company’s stock.
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Telenav Company Profile
Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.
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