Acadian Asset Management LLC Has $4.94 Million Position in Telenav, Inc. (NASDAQ:TNAV)

Acadian Asset Management LLC increased its holdings in shares of Telenav, Inc. (NASDAQ:TNAV) by 17.2% during the third quarter, Holdings Channel reports. The fund owned 1,371,004 shares of the technology company’s stock after acquiring an additional 200,981 shares during the quarter. Acadian Asset Management LLC’s holdings in Telenav were worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of Telenav by 1.0% during the 3rd quarter. BlackRock Inc. now owns 2,413,732 shares of the technology company’s stock worth $8,688,000 after acquiring an additional 22,996 shares during the last quarter. State Street Corp increased its holdings in shares of Telenav by 21.0% during the 1st quarter. State Street Corp now owns 982,467 shares of the technology company’s stock worth $4,244,000 after acquiring an additional 170,616 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Telenav by 2.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 468,695 shares of the technology company’s stock valued at $2,574,000 after buying an additional 10,228 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Telenav by 1.0% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 335,419 shares of the technology company’s stock valued at $1,208,000 after buying an additional 3,429 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Telenav by 426.3% in the 2nd quarter. AQR Capital Management LLC now owns 325,773 shares of the technology company’s stock valued at $1,788,000 after buying an additional 263,871 shares in the last quarter. 52.82% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have commented on TNAV shares. ValuEngine lowered Telenav from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. B. Riley raised Telenav from a “neutral” rating to a “buy” rating and upped their price objective for the company from $5.00 to $8.00 in a report on Thursday, August 13th. Zacks Investment Research lowered Telenav from a “hold” rating to a “sell” rating in a report on Tuesday, October 13th. Northland Securities assumed coverage on Telenav in a report on Thursday, August 13th. They issued a “hold” rating on the stock. Finally, TheStreet upgraded Telenav from a “d+” rating to a “c-” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.63.

NASDAQ:TNAV opened at $4.76 on Friday. The stock has a fifty day moving average price of $4.33 and a 200-day moving average price of $4.79. The company has a market cap of $226.21 million, a price-to-earnings ratio of -21.64 and a beta of 0.31. Telenav, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $6.50.

Telenav (NASDAQ:TNAV) last issued its quarterly earnings results on Tuesday, November 3rd. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.12. Telenav had a negative return on equity of 5.57% and a negative net margin of 4.16%. On average, analysts expect that Telenav, Inc. will post -0.06 EPS for the current fiscal year.

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 Automotive and Mobile Navigation segments. 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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Institutional Ownership by Quarter for Telenav (NASDAQ:TNAV)

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