Telenav Inc. (NASDAQ:TNAV) has been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price target of $10.83 for the company and are predicting that the company will post ($0.24) EPS for the current quarter, according to Zacks. Zacks has also assigned Telenav an industry rank of 180 out of 265 based on the ratings given to related companies.

A number of brokerages have commented on TNAV. B. Riley reissued a “buy” rating and issued a $10.00 price objective on shares of Telenav in a research note on Saturday, August 6th. Zacks Investment Research raised Telenav from a “sell” rating to a “hold” rating in a research report on Friday, July 1st.

In other Telenav news, General Counsel Loren E. Hillberg sold 7,803 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $5.22, for a total value of $40,731.66. Following the transaction, the general counsel now owns 12,500 shares of the company’s stock, valued at $65,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO H.P. Jin acquired 7,500 shares of the business’s stock in a transaction on Monday, August 8th. The stock was acquired at an average cost of $5.35 per share, for a total transaction of $40,125.00. Following the transaction, the chief executive officer now owns 1,364,769 shares of the company’s stock, valued at approximately $7,301,514.15. The disclosure for this purchase can be found here. Corporate insiders own 27.85% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Penn Capital Management Co. Inc. acquired a new position in Telenav during the second quarter valued at $1,757,000. Keane Capital Partners LLC acquired a new position in Telenav during the first quarter valued at $1,319,000. Granite Point Capital Management L.P. acquired a new position in Telenav during the second quarter valued at $639,000. BlackRock Fund Advisors boosted its position in Telenav by 16.7% in the second quarter. BlackRock Fund Advisors now owns 842,790 shares of the company’s stock valued at $4,298,000 after buying an additional 120,432 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in Telenav during the second quarter valued at $376,000. 47.29% of the stock is currently owned by institutional investors and hedge funds.

Telenav (NASDAQ:TNAV) opened at 5.86 on Friday. Telenav has a 52-week low of $4.47 and a 52-week high of $7.69. The company’s market cap is $250.26 million. The firm’s 50-day moving average price is $5.63 and its 200 day moving average price is $5.36.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.05. Telenav had a negative return on equity of 22.62% and a negative net margin of 19.26%. The firm earned $47.80 million during the quarter, compared to analysts’ expectations of $41.69 million. During the same quarter last year, the firm posted ($0.12) earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts predict that Telenav will post ($0.58) EPS for the current fiscal year.

About Telenav

TeleNav, Inc provides of location-based platform services consisting of map and navigation platform, and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers, auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications.

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