Thryv (NASDAQ:THRY) Shares Gap Down on Disappointing Earnings

Thryv Holdings, Inc. (NASDAQ:THRY) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $15.59, but opened at $14.59. Thryv shares last traded at $15.49, with a volume of 82,267 shares traded.

The company reported ($2.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.53) by ($0.12). Thryv had a negative net margin of 30.83% and a positive return on equity of 2.17%. The company had revenue of $179.85 million for the quarter, compared to analysts’ expectations of $179.24 million. During the same period last year, the company posted ($0.78) EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on THRY shares. Craig Hallum began coverage on shares of Thryv in a research note on Wednesday, October 2nd. They set a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Thryv in a report on Friday. Finally, Robert W. Baird lowered their target price on Thryv from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in shares of Thryv by 8.2% during the 1st quarter. Empowered Funds LLC now owns 171,478 shares of the company’s stock valued at $3,812,000 after acquiring an additional 12,950 shares during the period. Swiss National Bank increased its position in Thryv by 1.7% in the first quarter. Swiss National Bank now owns 65,900 shares of the company’s stock worth $1,465,000 after buying an additional 1,100 shares in the last quarter. SageView Advisory Group LLC bought a new position in shares of Thryv in the first quarter worth about $54,000. Blair William & Co. IL purchased a new position in shares of Thryv during the 1st quarter valued at about $4,039,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Thryv during the 1st quarter valued at about $118,000. Institutional investors own 96.38% of the company’s stock.

Thryv Trading Down 5.0 %

The company has a market capitalization of $521.99 million, a P/E ratio of -1.84 and a beta of 0.85. The stock has a 50 day moving average of $17.12 and a 200-day moving average of $18.64. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.58.

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.