Divisar Capital Management LLC Has $21.39 Million Position in Telenav, Inc. (TNAV)
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.
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.
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.
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