King Luther Capital Management Corp increased its stake in shares of Telenav Inc (NASDAQ:TNAV) by 45.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,000 shares of the technology company’s stock after purchasing an additional 20,000 shares during the period. King Luther Capital Management Corp owned 0.14% of Telenav worth $346,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ariel Investments LLC raised its position in shares of Telenav by 21.2% during the 4th quarter. Ariel Investments LLC now owns 3,609,773 shares of the technology company’s stock worth $19,854,000 after purchasing an additional 632,037 shares during the last quarter. BlackRock Inc. raised its position in shares of Telenav by 0.7% during the 4th quarter. BlackRock Inc. now owns 1,626,681 shares of the technology company’s stock worth $8,947,000 after purchasing an additional 10,831 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Telenav during the 4th quarter worth about $139,000. Divisar Capital Management LLC raised its position in shares of Telenav by 5.0% during the 4th quarter. Divisar Capital Management LLC now owns 3,728,204 shares of the technology company’s stock worth $20,505,000 after purchasing an additional 178,013 shares during the last quarter. Finally, Equitec Proprietary Markets LLC raised its position in shares of Telenav by 77.6% during the 4th quarter. Equitec Proprietary Markets LLC now owns 300,547 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 131,284 shares during the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.
Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of Telenav from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. B. Riley reiterated a “buy” rating and issued a $9.50 price objective on shares of Telenav in a report on Monday, January 29th. Finally, Zacks Investment Research upgraded shares of Telenav from a “sell” rating to a “hold” rating in a report on Thursday, April 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.17.
TNAV stock opened at $5.40 on Tuesday. Telenav Inc has a 12 month low of $4.50 and a 12 month high of $8.75.
Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Thursday, May 3rd. The technology company reported ($0.58) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.02. The company had revenue of $13.82 million during the quarter, compared to the consensus estimate of $13.52 million. Telenav had a negative net margin of 58.01% and a negative return on equity of 83.65%. equities analysts forecast that Telenav Inc will post -1.97 EPS for the current fiscal year.
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 mobile phone-based wireless connectivity and brought-in navigation services.
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