Thryv (NASDAQ:THRY) Shares Down 4.7% Following Weak Earnings

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

The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.15). Thryv had a negative net margin of 28.75% and a positive return on equity of 3.07%. The company had revenue of $233.62 million during the quarter, compared to the consensus estimate of $226.66 million. During the same period in the prior year, the company posted $0.25 EPS. Thryv’s quarterly revenue was down 4.9% on a year-over-year basis.

Analysts Set New Price Targets

Several research firms have weighed in on THRY. TheStreet cut shares of Thryv from a “c-” rating to a “d” rating in a research report on Friday, March 1st. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Thryv in a research report on Friday.

Insider Activity

In related news, CEO Joe Walsh purchased 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $19.01 per share, for a total transaction of $95,050.00. Following the acquisition, the chief executive officer now directly owns 501,172 shares in the company, valued at approximately $9,527,279.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Thryv

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. grew its holdings in shares of Thryv by 5.7% during the 1st quarter. Pinnacle Associates Ltd. now owns 71,273 shares of the company’s stock valued at $1,584,000 after acquiring an additional 3,815 shares in the last quarter. VitalStone Financial LLC bought a new stake in Thryv in the fourth quarter worth $422,000. Harspring Capital Management LLC boosted its holdings in Thryv by 23.2% in the fourth quarter. Harspring Capital Management LLC now owns 345,000 shares of the company’s stock worth $7,021,000 after purchasing an additional 65,000 shares in the last quarter. S Squared Technology LLC boosted its holdings in Thryv by 13.5% in the fourth quarter. S Squared Technology LLC now owns 252,383 shares of the company’s stock worth $5,136,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Wittenberg Investment Management Inc. boosted its holdings in Thryv by 41.8% in the fourth quarter. Wittenberg Investment Management Inc. now owns 28,834 shares of the company’s stock worth $587,000 after purchasing an additional 8,500 shares in the last quarter. 96.38% of the stock is currently owned by hedge funds and other institutional investors.

Thryv Price Performance

The stock has a market capitalization of $770.17 million, a P/E ratio of -2.86 and a beta of 0.92. The stock’s fifty day moving average is $22.08 and its 200-day moving average is $20.30. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.15 and a quick ratio of 1.01.

About Thryv

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.