Thryv (NASDAQ:THRY) Trading Down 8.3% After Earnings Miss

Thryv Holdings, Inc. (NASDAQ:THRY)’s share price traded down 8.3% on Thursday following a weaker than expected earnings announcement. The company traded as low as $12.17 and last traded at $12.56. 69,231 shares changed hands during trading, a decline of 83% from the average session volume of 395,886 shares. The stock had previously closed at $13.70.

The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.46). Thryv had a negative net margin of 38.87% and a negative return on equity of 42.95%. The company had revenue of $181.37 million for the quarter, compared to the consensus estimate of $173.83 million. During the same period in the prior year, the firm posted $0.22 EPS. The business’s revenue for the quarter was down 22.3% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on THRY. B. Riley lowered their price target on shares of Thryv from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada dropped their target price on shares of Thryv from $17.00 to $16.00 and set a “sector perform” rating for the company in a report on Friday. Finally, Needham & Company LLC dropped their price objective on Thryv from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in Thryv by 397.0% during the third quarter. Barclays PLC now owns 66,126 shares of the company’s stock valued at $1,140,000 after purchasing an additional 52,821 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Thryv by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 161,449 shares of the company’s stock worth $2,782,000 after acquiring an additional 4,705 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Thryv by 15.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 222,177 shares of the company’s stock worth $3,828,000 after purchasing an additional 28,909 shares during the period. MassMutual Private Wealth & Trust FSB bought a new position in Thryv during the 4th quarter valued at about $44,000. Finally, LB Partners LLC bought a new stake in Thryv in the fourth quarter worth about $2,956,000. 96.38% of the stock is currently owned by institutional investors.

Thryv Stock Up 9.4 %

The firm has a market cap of $595.18 million, a PE ratio of -1.41 and a beta of 1.03. The company has a 50-day simple moving average of $13.82 and a 200-day simple moving average of $15.35. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.04 and a quick ratio of 1.04.

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.