Prospect Capital Advisors Lowers stake in Telenav Inc (TNAV)

Telenav Inc (TNAV) : Prospect Capital Advisors reduced its stake in Telenav Inc by 24.24% during the most recent quarter end. The investment management company now holds a total of 1,189,800 shares of Telenav Inc which is valued at $5.8 Million after selling 380,700 shares in Telenav Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Telenav Inc makes up approximately 6.83% of Prospect Capital Advisors’s portfolio.

Other Hedge Funds, Including , Citadel Advisors boosted its stake in TNAV in the latest quarter, The investment management firm added 31,509 additional shares and now holds a total of 43,434 shares of Telenav Inc which is valued at $211,089. Nine Chapters Capital Management added TNAV to its portfolio by purchasing 14,400 company shares during the most recent quarter which is valued at $69,984. Telenav Inc makes up approx 0.01% of Nine Chapters Capital Management’s portfolio.New York State Common Retirement Fund boosted its stake in TNAV in the latest quarter, The investment management firm added 95,125 additional shares and now holds a total of 320,505 shares of Telenav Inc which is valued at $1.6 Million. Pembroke Management Ltd sold out all of its stake in TNAV during the most recent quarter. The investment firm sold 1,695,900 shares of TNAV which is valued $8.6 Million.Rhumbline Advisers boosted its stake in TNAV in the latest quarter, The investment management firm added 3,980 additional shares and now holds a total of 41,579 shares of Telenav Inc which is valued at $210,390.

Telenav Inc opened for trading at $4.855 and hit $4.855 on the upside on Wednesday, eventually ending the session at $4.78, with a gain of 0.63% or 0.03 points. The heightened volatility saw the trading volume jump to 70,841 shares. Company has a market cap of $203 M.

On the company’s financial health, Telenav Inc reported $-0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.24. The company had revenue of $46.30 million for the quarter, compared to analysts expectations of $44.78 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.

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. The Company offers its map and navigation platform services to auto manufacturers and original equipment manufacturers for distribution with their vehicles. The Company’s advertising delivery platform delivers targeted advertising services leveraging its location expertise. The advertising delivery platform offers advertisers significant audience reach sophisticated targeting capabilities and the ability to deliver interactive and engaging ad experiences to consumers on their mobile devices. The Company provides services in Automotive Navigation Advertising Network Services and Mobile Navigation Services.

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