Telenav (TNAV) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Telenav (NASDAQ:TNAV) from a strong-buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “

Shares of NASDAQ:TNAV traded down $0.27 during midday trading on Thursday, reaching $4.11. The company’s stock had a trading volume of 29,900 shares, compared to its average volume of 63,325. The company has a market cap of $199.60 million, a P/E ratio of -2.11 and a beta of 0.73. Telenav has a 1 year low of $3.35 and a 1 year high of $6.60.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Thursday, November 8th. The technology company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.14. The business 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 115.32% and a negative net margin of 66.53%. Research analysts forecast that Telenav will post -0.68 earnings per share for the current year.

In other news, insider Hassan Wahla purchased 20,000 shares of the stock in a transaction on Thursday, December 6th. The stock was purchased at an average price of $3.79 per share, with a total value of $75,800.00. Following the completion of the transaction, the insider now owns 137,426 shares in the company, valued at $520,844.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Philipp Wolfgang Josef Kandal purchased 9,600 shares of the stock in a transaction on Wednesday, November 21st. The shares were purchased at an average cost of $4.20 per share, with a total value of $40,320.00. Following the transaction, the senior vice president now owns 206,335 shares of the company’s stock, valued at approximately $866,607. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 80,551 shares of company stock valued at $336,685. Company insiders own 24.82% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. B. Riley Wealth Management Inc. purchased a new stake in Telenav during the third quarter valued at about $72,000. Panagora Asset Management Inc. grew its position in Telenav by 163.4% during the third quarter. Panagora Asset Management Inc. now owns 71,162 shares of the technology company’s stock valued at $359,000 after acquiring an additional 44,147 shares during the period. ARS Investment Partners LLC grew its position in Telenav by 11.0% during the third quarter. ARS Investment Partners LLC now owns 201,846 shares of the technology company’s stock valued at $1,019,000 after acquiring an additional 19,951 shares during the period. Northern Trust Corp grew its position in Telenav by 5.7% during the second quarter. Northern Trust Corp now owns 349,901 shares of the technology company’s stock valued at $1,960,000 after acquiring an additional 18,858 shares during the period. Finally, Wasatch Advisors Inc. purchased a new stake in Telenav during the third quarter valued at about $2,706,000. 51.68% of the stock is owned by hedge funds and other institutional investors.

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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