Telenav (TNAV) Lowered to Hold at Zacks Investment Research

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

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. “

Telenav stock traded down $0.27 during mid-day trading on Thursday, reaching $4.11. 29,900 shares of the company were exchanged, compared to its average volume of 63,325. Telenav has a twelve month low of $3.35 and a twelve month high of $6.60. The stock has a market capitalization of $199.60 million, a price-to-earnings ratio of -2.11 and a beta of 0.73.

Telenav (NASDAQ:TNAV) last posted its quarterly earnings results on Thursday, November 8th. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.14. The business had revenue of $52.17 million during the quarter, compared to analysts’ expectations of $51.74 million. Telenav had a negative return on equity of 115.32% and a negative net margin of 66.53%. As a group, equities analysts predict that Telenav will post -0.68 EPS for the current year.

In other Telenav news, SVP Philipp Wolfgang Josef Kandal purchased 10,000 shares of Telenav stock in a transaction dated Monday, November 19th. The stock was acquired at an average cost of $4.43 per share, with a total value of $44,300.00. Following the acquisition, the senior vice president now directly owns 186,735 shares of the company’s stock, valued at $827,236.05. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Hassan Wahla purchased 20,000 shares of Telenav stock in a transaction dated Thursday, December 6th. The stock was acquired at an average cost of $3.79 per share, with a total value of $75,800.00. Following the completion of the acquisition, the insider now directly owns 137,426 shares in the company, valued at $520,844.54. The disclosure for this purchase can be found here. Insiders bought a total of 80,551 shares of company stock valued at $336,685 over the last three months. Insiders own 24.82% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wasatch Advisors Inc. acquired a new position in Telenav during the third quarter worth $2,706,000. Vanguard Group Inc raised its holdings in Telenav by 9.3% during the third quarter. Vanguard Group Inc now owns 1,696,267 shares of the technology company’s stock worth $8,566,000 after purchasing an additional 144,495 shares during the last quarter. Vanguard Group Inc. raised its holdings in Telenav by 9.3% during the third quarter. Vanguard Group Inc. now owns 1,696,267 shares of the technology company’s stock worth $8,566,000 after purchasing an additional 144,495 shares during the last quarter. BlackRock Inc. raised its holdings 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 purchasing an additional 71,558 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in Telenav by 163.4% during the third quarter. Panagora Asset Management Inc. now owns 71,162 shares of the technology company’s stock worth $359,000 after purchasing an additional 44,147 shares during the last quarter. 51.68% of the stock is owned by institutional investors and hedge funds.

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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