Telenav Inc (NASDAQ:TNAV) – Equities researchers at FBR & Co dropped their FY2017 earnings per share (EPS) estimates for shares of Telenav in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. FBR & Co analyst C. Horn now forecasts that the technology company will post earnings per share of ($0.94) for the year, down from their prior forecast of ($0.86). FBR & Co also issued estimates for Telenav’s Q4 2017 earnings at ($0.30) EPS, FY2018 earnings at ($0.57) EPS and FY2019 earnings at ($0.04) EPS.
TNAV has been the topic of several other research reports. Zacks Investment Research cut shares of Telenav from a “buy” rating to a “hold” rating in a research report on Saturday, January 28th. Sidoti cut shares of Telenav from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Friday, January 20th. Finally, B. Riley restated a “buy” rating and issued a $11.00 price objective on shares of Telenav in a report on Wednesday, January 25th.
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Shares of Telenav (NASDAQ:TNAV) traded up 4.97% during mid-day trading on Monday, hitting $8.45. The stock had a trading volume of 213,449 shares. Telenav has a 1-year low of $4.49 and a 1-year high of $10.15. The stock’s 50-day moving average is $8.59 and its 200 day moving average is $7.78. The firm’s market capitalization is $369.55 million.
Several hedge funds have recently made changes to their positions in TNAV. Divisar Capital Management LLC purchased a new stake in shares of Telenav during the fourth quarter valued at approximately $12,189,000. Nokomis Capital L.L.C. boosted its position in Telenav by 12.1% in the fourth quarter. Nokomis Capital L.L.C. now owns 4,495,750 shares of the technology company’s stock valued at $31,695,000 after buying an additional 487,014 shares during the last quarter. Cortina Asset Management LLC bought a new position in Telenav during the first quarter valued at $4,072,000. Penn Capital Management Co. Inc. boosted its position in Telenav by 123.4% in the third quarter. Penn Capital Management Co. Inc. now owns 769,678 shares of the technology company’s stock valued at $4,410,000 after buying an additional 425,173 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Telenav during the first quarter valued at $3,649,000. Hedge funds and other institutional investors own 47.06% of the company’s stock.
In related news, CFO Michael Strambi sold 10,000 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $8.70, for a total transaction of $87,000.00. Following the transaction, the chief financial officer now owns 41,578 shares in the company, valued at $361,728.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Evan Berg sold 5,329 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $8.80, for a total transaction of $46,895.20. Following the completion of the transaction, the vice president now owns 21,766 shares in the company, valued at $191,540.80. The disclosure for this sale can be found here. Corporate insiders own 24.60% of the company’s stock.
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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