ARS Investment Partners LLC boosted its holdings in Telenav Inc (NASDAQ:TNAV) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,846 shares of the technology company’s stock after acquiring an additional 19,951 shares during the quarter. ARS Investment Partners LLC owned about 0.45% of Telenav worth $1,019,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of TNAV. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Telenav during the second quarter worth about $415,000. BlackRock Inc. boosted its position in Telenav by 4.5% during the second quarter. BlackRock Inc. now owns 1,665,808 shares of the technology company’s stock worth $9,328,000 after acquiring an additional 71,558 shares during the last quarter. Divisar Capital Management LLC boosted its position in Telenav by 2.0% during the second 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 last quarter. Northern Trust Corp boosted 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 worth $1,960,000 after acquiring an additional 18,858 shares during the last quarter. Finally, Wasatch Advisors Inc. acquired a new position in Telenav during the third quarter worth about $2,706,000. Hedge funds and other institutional investors own 51.99% of the company’s stock.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Telenav from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research note on Saturday, November 17th. BidaskClub raised shares of Telenav from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $7.92.
Shares of TNAV stock opened at $4.18 on Friday. Telenav Inc has a 12 month low of $3.95 and a 12 month high of $6.60. The stock has a market cap of $183.76 million, a price-to-earnings ratio of -2.14 and a beta of 0.79.
Telenav (NASDAQ:TNAV) last issued its earnings results on Thursday, November 8th. The technology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. Telenav had a negative net margin of 66.53% and a negative return on equity of 115.32%. The company had revenue of $52.17 million for the quarter, compared to the consensus estimate of $51.74 million. As a group, equities analysts predict that Telenav Inc will post -0.68 EPS for the current fiscal year.
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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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