Pinnacle Associates Ltd. Has $723,000 Holdings in Thryv Holdings, Inc. (NASDAQ:THRY)

Pinnacle Associates Ltd. increased its holdings in shares of Thryv Holdings, Inc. (NASDAQ:THRY) by 82.3% in the first quarter, HoldingsChannel reports. The firm owned 56,456 shares of the company’s stock after buying an additional 25,493 shares during the period. Pinnacle Associates Ltd.’s holdings in Thryv were worth $723,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in Thryv during the 1st quarter worth $30,209,000. Paulson & CO. Inc. lifted its stake in Thryv by 114.0% in the 4th quarter. Paulson & CO. Inc. now owns 4,280,000 shares of the company’s stock valued at $63,344,000 after purchasing an additional 2,280,000 shares during the last quarter. J. Goldman & Co LP bought a new stake in Thryv during the 4th quarter worth $13,654,000. Vanguard Group Inc. raised its holdings in Thryv by 22.5% in the 4th quarter. Vanguard Group Inc. now owns 2,983,416 shares of the company’s stock valued at $44,155,000 after buying an additional 548,864 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in shares of Thryv during the fourth quarter worth about $7,400,000. 96.38% of the stock is owned by institutional investors and hedge funds.

Thryv Stock Performance

NASDAQ THRY opened at $11.90 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day moving average price of $12.83 and a 200-day moving average price of $14.35. Thryv Holdings, Inc. has a 1 year low of $10.02 and a 1 year high of $20.92. The firm has a market cap of $520.51 million, a price-to-earnings ratio of -4.70 and a beta of 0.94.

Thryv (NASDAQ:THRY) last announced its earnings results on Thursday, May 1st. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.46). The business had revenue of $181.37 million during the quarter, compared to analysts’ expectations of $173.83 million. Thryv had a negative return on equity of 51.25% and a negative net margin of 11.94%. Thryv’s quarterly revenue was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, equities research analysts predict that Thryv Holdings, Inc. will post -2.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on THRY shares. Royal Bank Of Canada decreased their price target on shares of Thryv from $17.00 to $16.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. B. Riley lowered their price objective 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. Finally, Needham & Company LLC dropped their price objective on shares of Thryv from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.40.

Insider Buying and Selling at Thryv

In other news, CEO Joe Walsh acquired 5,000 shares of Thryv stock in a transaction on Wednesday, May 7th. The stock was acquired at an average cost of $13.40 per share, with a total value of $67,000.00. Following the completion of the acquisition, the chief executive officer owned 586,043 shares in the company, valued at approximately $7,852,976.20. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.88% of the stock is owned by corporate insiders.

Thryv 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.