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Telenav Inc (TNAV): Hedge Funds Are Bearish and Insiders Are Undecided, What Should You Do?

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Is it smart to be bullish on Telenav Inc (NASDAQ:TNAV)?

If you were to ask many of your fellow readers, hedge funds are seen as bloated, old investment vehicles of a period lost to current times. Although there are In excess of 8,000 hedge funds in operation today, Insider Monkey focuses on the elite of this club, close to 525 funds. Analysts calculate that this group oversees most of the hedge fund industry’s total assets, and by monitoring their best equity investments, we’ve deciphered a number of investment strategies that have historically outperformed the market. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we‘ve began to sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 33 percentage points in 11 months (explore the details and some picks here).

Equally as crucial, positive insider trading sentiment is a second way to analyze the stock market universe. As the old adage goes: there are lots of motivations for an executive to drop shares of his or her company, but only one, very obvious reason why they would buy. Many academic studies have demonstrated the impressive potential of this method if investors know what to do (learn more here).

Telenav Inc (NASDAQ:TNAV)

What’s more, let’s discuss the latest info surrounding Telenav Inc (NASDAQ:TNAV).

How have hedgies been trading Telenav Inc (NASDAQ:TNAV)?

At Q2’s end, a total of 13 of the hedge funds we track were bullish in this stock, a change of -13% from one quarter earlier. With the smart money’s capital changing hands, there exists a few notable hedge fund managers who were upping their holdings meaningfully.

When using filings from the hedgies we track, Nokomis Capital, managed by Brett Hendrickson, holds the most valuable position in Telenav Inc (NASDAQ:TNAV). Nokomis Capital has a $5.2 million position in the stock, comprising 2.1% of its 13F portfolio. Coming in second is Chuck Royce of Royce & Associates, with a $4.3 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other hedge funds that are bullish include John W. Rogers’s Ariel Investments, Jim Simons’s Renaissance Technologies and Howard Guberman’s Gruss Asset Management.

Since Telenav Inc (NASDAQ:TNAV) has faced bearish sentiment from the entirety of the hedge funds we track, we can see that there were a few hedgies that slashed their positions entirely at the end of the second quarter. At the top of the heap, Christopher Zepf and Brian Thonn’s Kingdom Ridge Capital dumped the largest investment of the 450+ funds we monitor, totaling an estimated $0.7 million in stock, and Glenn Russell Dubin of Highbridge Capital Management was right behind this move, as the fund dropped about $0.2 million worth. These transactions are important to note, as aggregate hedge fund interest was cut by 2 funds at the end of the second quarter.

What have insiders been doing with Telenav Inc (NASDAQ:TNAV)?

Bullish insider trading is particularly usable when the company in focus has seen transactions within the past six months. Over the latest half-year time period, Telenav Inc (NASDAQ:TNAV) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also examine the relationship between both of these indicators in other stocks similar to Telenav Inc (NASDAQ:TNAV). These stocks are Vishay Precision Group Inc (NYSE:VPG), Affymetrix, Inc. (NASDAQ:AFFX), Mitcham Industries, Inc. (NASDAQ:MIND), GSI Group Inc. (USA) (NASDAQ:GSIG), and Zygo Corporation (NASDAQ:ZIGO). This group of stocks are in the scientific & technical instruments industry and their market caps resemble TNAV’s market cap.

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