Thryv (NASDAQ:THRY) Shares Gap Down Following Weak Earnings

Thryv Holdings, Inc. (NASDAQ:THRY)’s stock price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. 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 (EPS) 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 business earned ($0.78) earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year.

Analyst Ratings Changes

Several brokerages have commented on THRY. Robert W. Baird decreased their price target on shares of Thryv from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Thryv in a research report on Friday. Finally, Craig Hallum assumed coverage on Thryv in a report on Wednesday, October 2nd. They set a “buy” rating and a $25.00 price target for the company.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Blair William & Co. IL bought a new position in Thryv during the first quarter valued at $4,039,000. Renaissance Technologies LLC bought a new position in Thryv during the 2nd quarter valued at about $2,816,000. Assenagon Asset Management S.A. raised its position in Thryv by 182.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 220,346 shares of the company’s stock worth $3,797,000 after purchasing an additional 142,434 shares during the period. Millennium Management LLC raised its position in Thryv by 78.8% in the 2nd quarter. Millennium Management LLC now owns 178,807 shares of the company’s stock worth $3,186,000 after purchasing an additional 78,793 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Thryv in the second quarter worth about $811,000. Institutional investors own 96.38% of the company’s stock.

Thryv Stock Down 5.0 %

The firm has a market cap of $521.99 million, a PE ratio of -1.84 and a beta of 0.85. The company has a 50-day simple moving average of $17.12 and a 200-day simple moving average of $18.64. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.14 and a quick ratio of 1.14.

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.