Thryv (NASDAQ:THRY) Shares Down 4.7% After Earnings Miss

Thryv Holdings, Inc. (NASDAQ:THRY - Get Free Report) was down 4.7% during trading on Friday following a weaker than expected earnings announcement. The company 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 for the quarter, missing the consensus estimate of $0.37 by ($0.15). The firm had revenue of $233.62 million for the quarter, compared to the consensus estimate of $226.66 million. Thryv had a negative net margin of 28.28% and a positive return on equity of 2.82%. The company's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share.

Analyst Ratings Changes

THRY has been the subject of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of Thryv in a research report on Friday. TheStreet lowered shares of Thryv from a "c-" rating to a "d" rating in a report on Friday, March 1st.

Insider Activity

In other news, CEO Joe Walsh purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $19.01 per share, for a total transaction of $95,050.00. Following the purchase, the chief executive officer now directly owns 501,172 shares in the company, valued at approximately $9,527,279.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.80% of the company's stock.

Hedge Funds Weigh In On Thryv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Thryv by 64.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,647 shares of the company's stock worth $176,000 after purchasing an additional 3,398 shares during the last quarter. MQS Management LLC purchased a new position in shares of Thryv during the third quarter valued at approximately $204,000. Mackenzie Financial Corp bought a new position in Thryv during the fourth quarter valued at approximately $271,000. Dark Forest Capital Management LP purchased a new stake in Thryv in the third quarter worth approximately $278,000. Finally, Louisiana State Employees Retirement System bought a new stake in Thryv in the 4th quarter worth approximately $315,000. 96.38% of the stock is owned by institutional investors.

Thryv Stock Performance

The business's 50 day simple moving average is $22.05 and its two-hundred day simple moving average is $20.28. The firm has a market capitalization of $770.17 million, a PE ratio of -2.87 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.83.

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.