Thryv (NASDAQ:THRY) Trading Down 4.7% on Disappointing Earnings

Thryv Holdings, Inc. (NASDAQ:THRY)’s share price traded down 4.7% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $22.98 and last traded at $23.03. 16,315 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 142,255 shares. The stock had previously closed at $24.17.

The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.15). The company had revenue of $233.62 million during the quarter, compared to analyst estimates of $226.66 million. Thryv had a negative net margin of 28.28% and a positive return on equity of 2.82%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TheStreet cut Thryv from a “c-” rating to a “d” rating in a research report on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Thryv in a research note on Friday.

Insiders Place Their Bets

In related news, CEO Joe Walsh acquired 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $19.01 per share, for a total transaction of $95,050.00. Following the completion of the purchase, the chief executive officer now owns 501,172 shares in the company, valued at approximately $9,527,279.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Thryv

Several hedge funds have recently made changes to their positions in the stock. Pinnacle Associates Ltd. increased its position in shares of Thryv by 5.7% during the first quarter. Pinnacle Associates Ltd. now owns 71,273 shares of the company’s stock valued at $1,584,000 after purchasing an additional 3,815 shares during the period. VitalStone Financial LLC acquired a new position in shares of Thryv in the 4th quarter worth approximately $422,000. Harspring Capital Management LLC lifted its position in shares of Thryv by 23.2% during the 4th quarter. Harspring Capital Management LLC now owns 345,000 shares of the company’s stock worth $7,021,000 after buying an additional 65,000 shares during the period. S Squared Technology LLC boosted its stake in Thryv by 13.5% in the 4th quarter. S Squared Technology LLC now owns 252,383 shares of the company’s stock valued at $5,136,000 after buying an additional 30,000 shares in the last quarter. Finally, Wittenberg Investment Management Inc. grew its position in Thryv by 41.8% in the fourth quarter. Wittenberg Investment Management Inc. now owns 28,834 shares of the company’s stock valued at $587,000 after acquiring an additional 8,500 shares during the period. Institutional investors own 96.38% of the company’s stock.

Thryv Stock Down 11.1 %

The company has a debt-to-equity ratio of 1.83, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $22.05 and a 200-day simple moving average of $20.28. The stock has a market capitalization of $770.17 million, a price-to-earnings ratio of -2.87 and a beta of 0.92.

Thryv Company Profile

Thryv Holdings, Inc provides digital marketing solutions and cloud-based tools to the small-to-medium sized businesses in the United States. It operates through four segments: Thryv U.S. Marketing Services, Thryv U.S. SaaS, Thryv International Marketing Services, and Thryv International SaaS. The company provides print yellow pages, internet yellow pages, and search engine marketing; and other digital media solutions, such as online display and social advertising, online presence and video, and search engine optimization tools.