Wittenberg Investment Management Inc. Buys 20,000 Shares of Thryv Holdings, Inc. (NASDAQ:THRY)

Key Points

• Wittenberg Investment Management Inc. increased its stake in Thryv Holdings, Inc. by 32.8% to approximately 80,934 shares worth $1.04 million, as per its recent SEC filing.
• Thryv reported a loss of $0.09 EPS in its latest quarterly earnings, missing the consensus estimate, while revenue was down 6.1% year-over-year.
• Wall Street analysts have given Thryv a consensus rating of "Moderate Buy", with a target price averaging $21.40, despite recent adjustments by several investment firms.

Wittenberg Investment Management Inc. boosted its position in Thryv Holdings, Inc. (NASDAQ:THRY - Free Report) by 32.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 80,934 shares of the company's stock after purchasing an additional 20,000 shares during the period. Wittenberg Investment Management Inc. owned about 0.19% of Thryv worth $1,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Thryv by 14.1% in the fourth quarter. American Century Companies Inc. now owns 64,473 shares of the company's stock worth $954,000 after acquiring an additional 7,970 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Thryv during the 4th quarter worth approximately $92,000. Vanguard Group Inc. raised its holdings in shares of Thryv by 22.5% in the 4th quarter. Vanguard Group Inc. now owns 2,983,416 shares of the company's stock worth $44,155,000 after purchasing an additional 548,864 shares during the period. Corebridge Financial Inc. lifted its stake in Thryv by 8.9% in the fourth quarter. Corebridge Financial Inc. now owns 19,984 shares of the company's stock valued at $296,000 after purchasing an additional 1,631 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Thryv by 22.4% during the fourth quarter. JPMorgan Chase & Co. now owns 271,874 shares of the company's stock valued at $4,024,000 after purchasing an additional 49,697 shares during the period. Hedge funds and other institutional investors own 96.38% of the company's stock.

Insider Buying and Selling at Thryv

In other Thryv news, CEO Joe Walsh purchased 8,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was purchased at an average price of $12.90 per share, for a total transaction of $103,200.00. Following the transaction, the chief executive officer owned 592,232 shares in the company, valued at $7,639,792.80. The trade was a 1.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

THRY has been the subject of several research reports. Needham & Company LLC cut their price target on Thryv from $28.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada dropped their price objective on shares of Thryv from $17.00 to $16.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. B. Riley reduced their target price on shares of Thryv from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Thryv from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Thryv presently has a consensus rating of "Moderate Buy" and an average target price of $21.40.

Thryv Price Performance

Thryv stock traded up $0.03 during midday trading on Friday, reaching $12.87. 540,938 shares of the stock were exchanged, compared to its average volume of 578,196. Thryv Holdings, Inc. has a 52 week low of $10.02 and a 52 week high of $20.92. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $565.51 million, a PE ratio of -5.43 and a beta of 0.94. The company's fifty day moving average is $12.70 and its 200-day moving average is $14.20.

Thryv (NASDAQ:THRY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.09). Thryv had a negative net margin of 11.06% and a negative return on equity of 47.96%. The firm had revenue of $210.47 million for the quarter, compared to analysts' expectations of $203.87 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Thryv Holdings, Inc. will post -2.24 EPS for the current year.

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.