Nokomis Capital L.l.c. buys $22,129,334 stake in Telenav Inc (TNAV)

Telenav Inc (TNAV) : Nokomis Capital L.l.c. scooped up 116,190 additional shares in Telenav Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,958,736 shares of Telenav Inc which is valued at $22,129,334.Telenav Inc makes up approximately 5.19% of Nokomis Capital L.l.c.’s portfolio.

Other Hedge Funds, Including , Harvey Partners sold out all of its stake in TNAV during the most recent quarter. The investment firm sold 25,000 shares of TNAV which is valued $139,750.Geode Capital Management boosted its stake in TNAV in the latest quarter, The investment management firm added 5,746 additional shares and now holds a total of 200,305 shares of Telenav Inc which is valued at $1,119,705.Blackrock Fund Advisors boosted its stake in TNAV in the latest quarter, The investment management firm added 120,432 additional shares and now holds a total of 842,790 shares of Telenav Inc which is valued at $4,711,196. Dynamic Technology Lab Private Ltd sold out all of its stake in TNAV during the most recent quarter. The investment firm sold 17,238 shares of TNAV which is valued $96,360. Coldstream Capital Management Inc sold out all of its stake in TNAV during the most recent quarter. The investment firm sold 18,425 shares of TNAV which is valued $100,969.

Telenav Inc opened for trading at $5.84 and hit $6.04 on the upside on Thursday, eventually ending the session at $6.03, with a gain of 3.43% or 0.2 points. The heightened volatility saw the trading volume jump to 48,346 shares. Company has a market cap of $258 M.

On the company’s financial health, Telenav Inc reported $-0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.18. The company had revenue of $47.80 million for the quarter, compared to analysts expectations of $41.46 million. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 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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