Thryv (NASDAQ:THRY) Shares Gap Up After Better-Than-Expected Earnings

Shares of Thryv Holdings, Inc. (NASDAQ:THRY - Get Free Report) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $18.61, but opened at $20.92. Thryv shares last traded at $17.78, with a volume of 37,731 shares traded.

The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.26. The firm had revenue of $186.60 million during the quarter, compared to analysts' expectations of $183.02 million. Thryv had a negative return on equity of 42.95% and a negative net margin of 38.87%.

Analyst Ratings Changes

Several brokerages have commented on THRY. Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Thryv in a report on Wednesday, January 15th. Robert W. Baird dropped their price objective on shares of Thryv from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, November 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of THRY. Louisiana State Employees Retirement System boosted its position in Thryv by 3.8% during the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the company's stock worth $284,000 after acquiring an additional 600 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Thryv by 5.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,473 shares of the company's stock valued at $335,000 after buying an additional 960 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Thryv by 37.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 67,458 shares of the company's stock worth $1,162,000 after buying an additional 18,287 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Thryv by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 161,449 shares of the company's stock worth $2,782,000 after buying an additional 4,705 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Thryv by 97.8% in the 3rd quarter. KBC Group NV now owns 2,868 shares of the company's stock valued at $49,000 after acquiring an additional 1,418 shares in the last quarter. 96.38% of the stock is currently owned by institutional investors.

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Thryv Trading Down 5.1 %

The firm has a market cap of $687.86 million, a price-to-earnings ratio of -1.69 and a beta of 0.90. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $16.75 and a 200-day moving average of $16.68.

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.