BidaskClub Downgrades Telenav (NASDAQ:TNAV) to Buy

BidaskClub lowered shares of Telenav (NASDAQ:TNAV) from a strong-buy rating to a buy rating in a research note published on Thursday morning, BidAskClub reports.

TNAV has been the topic of several other reports. B. Riley reissued a buy rating on shares of Telenav in a research note on Wednesday, July 31st. Zacks Investment Research raised Telenav from a sell rating to a hold rating in a research note on Wednesday, June 26th. ValuEngine cut Telenav from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Northland Securities reissued a buy rating and issued a $11.00 target price on shares of Telenav in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of Buy and an average target price of $8.38.

Shares of NASDAQ TNAV traded up $0.86 during trading hours on Thursday, hitting $9.96. The company’s stock had a trading volume of 566,769 shares, compared to its average volume of 264,543. Telenav has a 12 month low of $3.35 and a 12 month high of $9.98. The stock has a 50-day moving average price of $8.68.

Telenav (NASDAQ:TNAV) last posted its earnings results on Thursday, May 9th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. The company had revenue of $53.07 million for the quarter, compared to analysts’ expectations of $51.02 million. Telenav had a negative return on equity of 30.76% and a negative net margin of 14.88%. As a group, equities analysts anticipate that Telenav will post -0.55 EPS for the current year.

In related news, insider Hassan Wahla sold 49,999 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $7.40, for a total value of $369,992.60. Following the sale, the insider now directly owns 181,164 shares of the company’s stock, valued at $1,340,613.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Philipp Wolfgang Josef Kandal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $9.35, for a total value of $93,500.00. Following the completion of the sale, the senior vice president now directly owns 199,113 shares in the company, valued at $1,861,706.55. The disclosure for this sale can be found here. Insiders sold 332,180 shares of company stock worth $2,552,775 over the last three months. 24.82% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of TNAV. Charles Schwab Investment Management Inc. boosted its position in Telenav by 332.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 310,476 shares of the technology company’s stock valued at $2,484,000 after acquiring an additional 238,667 shares in the last quarter. Wasatch Advisors Inc. boosted its position in Telenav by 68.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 578,138 shares of the technology company’s stock valued at $4,625,000 after acquiring an additional 233,945 shares in the last quarter. Acadian Asset Management LLC boosted its position in Telenav by 1,392.2% during the 2nd quarter. Acadian Asset Management LLC now owns 247,400 shares of the technology company’s stock valued at $1,979,000 after acquiring an additional 230,820 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Telenav by 126.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 304,736 shares of the technology company’s stock valued at $2,438,000 after acquiring an additional 170,243 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Telenav by 3.2% during the 4th quarter. BlackRock Inc. now owns 1,742,870 shares of the technology company’s stock valued at $7,076,000 after acquiring an additional 54,720 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

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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