Divisar Capital Management LLC increased its stake in Telenav, Inc. (NASDAQ:TNAV) by 26.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,640,381 shares of the technology company’s stock after buying an additional 554,399 shares during the quarter. Telenav comprises approximately 9.8% of Divisar Capital Management LLC’s holdings, making the stock its largest holding. Divisar Capital Management LLC owned approximately 6.01% of Telenav worth $21,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TNAV. Voya Investment Management LLC bought a new stake in Telenav in the second quarter worth about $111,000. B. Riley Financial Inc. boosted its position in shares of Telenav by 171.9% during the second quarter. B. Riley Financial Inc. now owns 375,393 shares of the technology company’s stock valued at $3,041,000 after buying an additional 237,321 shares during the period. Nordea Investment Management AB boosted its position in shares of Telenav by 68.9% during the second quarter. Nordea Investment Management AB now owns 25,000 shares of the technology company’s stock valued at $203,000 after buying an additional 10,200 shares during the period. Vanguard Group Inc. boosted its position in shares of Telenav by 6.8% during the second quarter. Vanguard Group Inc. now owns 1,282,162 shares of the technology company’s stock valued at $10,386,000 after buying an additional 81,555 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Telenav by 2.2% during the second quarter. Northern Trust Corp now owns 336,292 shares of the technology company’s stock valued at $2,724,000 after buying an additional 7,356 shares during the period. Institutional investors own 53.92% of the company’s stock.

A number of research analysts have recently commented on TNAV shares. B. Riley reaffirmed a “buy” rating and set a $11.00 target price on shares of Telenav in a research note on Thursday, August 10th. Northland Securities set a $15.00 price target on Telenav and gave the stock a “buy” rating in a research note on Monday, July 10th. Zacks Investment Research raised Telenav from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub cut Telenav from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, ValuEngine cut Telenav from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $12.00.

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Shares of Telenav, Inc. (NASDAQ TNAV) traded down 0.76% during midday trading on Wednesday, reaching $6.50. 15,607 shares of the company were exchanged. The firm has a 50-day moving average of $6.38 and a 200 day moving average of $7.76. Telenav, Inc. has a 52 week low of $4.80 and a 52 week high of $10.15. The firm’s market capitalization is $285.65 million.

Telenav (NASDAQ:TNAV) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. Telenav had a negative net margin of 27.87% and a negative return on equity of 32.05%. The firm had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.87 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The business’s revenue for the quarter was down 15.6% compared to the same quarter last year. On average, equities research analysts expect that Telenav, Inc. will post ($1.08) EPS for the current year.

About Telenav

TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.

Institutional Ownership by Quarter for Telenav (NASDAQ:TNAV)

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