In a surprising turn of events on July 24, 2023, Raymond James & Associates announced a substantial reduction in its position in Thryv Holdings, Inc. (NASDAQ: THRY). According to its most recent Form 13F filing with the Securities and Exchange Commission, the institutional investor sold 85,853 shares during the first quarter, a decrease of 72.6% in holdings. As a result, Raymond James & Associates now owns just 32,345 shares of Thryv, a mere fraction of what it once held.
This major divestment raises many eyebrows and arouses curiosity in the financial community. To put that in perspective, Raymond James & Associates has cut its investment in Thryv by nearly three-quarters. The consequences of such an action could have profound implications for both parties involved.
Thryv Holdings, Inc., known for providing digital marketing solutions and cloud-based tools to small and medium-sized businesses (SMBs), operates through several segments that focus on different aspects of its services. These segments include Thryv US Marketing Services, Thryv US SaaS (Software as a Service), Thryv International Marketing Services and Thryv International SaaS.
Its suite of offerings includes print and digital solutions such as print Yellow Pages and Internet Yellow Pages; they also specialize in search engine marketing and other digital media solutions such as online display advertising, social advertising, online presence management tools along with video creation options and search engine optimization capabilities.
While the Raymond James & Associates divestment paints a picture of uncertainty around Thryv’s future prospects or market sentiment regarding the company’s performance so far this year ending in the first quarter suggests otherwise. The institution’s decision may be an isolated fact rather than indicating any underlying flaw in the organization.
Adding to the complexity of this situation is recent news of CEO Joe Walsh’s May 8 purchase of 5,000 shares. The transaction, which had an average cost of $20.75 per share, equates to a total investment value of $103,750. Following this purchase, Walsh now has a significant stake in Thryv Holdings, Inc., owning 425,418 shares, an investment valued at approximately $8,827,423.50.
The disclosure of the Walsh acquisition was made through a filing with the Securities & Exchange Commission and can be accessed through the link provided. Also, it is worth noting that company insiders currently own 10.80% of the stock.
The juxtaposition of Raymond James & Associates’ stake reduction and CEO Joe Walsh’s bullish move adds another layer of intrigue to the situation surrounding Thryv Holdings, Inc. While these developments can lead to speculation and create uncertainty among investors and analysts alike, it remains critical not to jump to conclusions without considering all available information.
It is imperative to look beyond singular events or actions when assessing a company’s overall position within its industry. To date, Thryv has proven its capabilities in providing digital marketing solutions and cloud-based tools for SMBs consistently. Whether the Raymond James & Associates divestment represents skepticism or simply aligns with specific portfolio management decisions is not yet known.
For shareholders interested in Thryv Holdings’ post-Q1 performance or those interested in analyzing market sentiment beyond this intriguing shift in its institutional investor landscape, prudent due diligence and ongoing monitoring are key factors that will help navigate these perplexing waters with greater clarity soon.
Thryv Holdings, Inc.
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buy
Updated on: 24/07/2023
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Date: July 23, 2023
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Thryv Holdings, Inc.: Captivating institutional investors with digital marketing solutions for SMBs
In today’s fast-paced digital world, businesses are constantly looking for innovative solutions to help them thrive in the marketplace. Thryv Holdings, Inc. is a company that offers digital marketing solutions and cloud-based tools specifically tailored to small and medium-sized enterprises (SMEs). As of the July 24, 2023 benchmark date, Thryv has attracted the attention of numerous institutional investors and hedge funds, indicating growing interest in the company.
One prominent investor is Federated Hermes Inc., which recently acquired a stake in Thryv during the third quarter of last year. The value of this investment amounted to about $29,000, which highlights their belief in Thryv’s growth potential. Similarly, UBS Group AG also grew its position in Thryv by an astounding 1,180.3% during the same quarter. This acquisition led to them owning 2,471 shares of Thryv worth $56,000.
These investments demonstrate the confidence institutional investors have placed in Thryv’s ability to deliver effective marketing solutions for SMBs. Point72 Hong Kong Ltd further bolstered this sentiment by buying a new position in Thryv valued at about $72,000 during the first quarter of this year. Ensign Peak Advisors Inc followed suit by acquiring shares valued at approximately $83,000 during the third quarter.
Considering these investments collectively reaffirms Thryv’s position as an attractive option for hedge funds and institutional investors looking to diversify their portfolios. Quantbot Technologies LP exemplifies this sentiment, growing its position in Thryv by an impressive 1,877% in the first quarter alone. This decision led them to own 3,954 shares worth $111,000.
With 91.18% of its shares held by hedge funds and institutional investors combined, it’s clear that industry professionals see great potential in Thryv Holdings, Inc. These investments support Thryv’s credibility and indicate a high level of confidence in the company’s ability to generate strong returns.
Also, it’s important to note that on May 5th, Robert W. Baird cut their price objective on Thryv from $32.00 to $24.00. This move demonstrates the constantly changing dynamics of the market and the need for investors to continually reassess their strategies.
Thryv Holdings’ focus lies in providing end-to-end digital marketing solutions and cloud-based tools to SMBs. Its operations are divided into Thryv US Marketing Services, Thryv US SaaS, Thryv International Marketing Services and Thryv International SaaS. The range of services includes print and digital solutions such as print yellow pages, internet yellow pages, search engine marketing, as well as other digital media solutions such as online advertising and social media, online presence and video, and search engine optimization tools.
Thryv Holdings’ journey to market has been dynamic. Shares of THRY opened at $24.16 per share on Monday, which is within its fifty-two week range of $17.30 to $28.80. With a market cap of approximately $841.25 million and a PE ratio of 31.79, Thryv offers stability while maintaining an attractive valuation for investors looking for unique opportunities.
On Thursday, May 4th, Thryv announced its quarterly earnings results, which reported $0.25 earnings per share (EPS) for the quarter, slightly below analysts’ consensus estimates of ($0.05). However, despite this difference in expectations, the company generated revenue worth $245.50 million during the same period versus analyst estimates of $237.69 million.
It is crucial to note that during this difficult period compared to the prior year quarter, when it posted an impressive EPS of $0.88, Thryv experienced a 20.4% drop in revenue. Despite this setback, the company maintains a net margin of 2.65% and a return on equity of 32.81%.
As the year progresses, equities analysts predict that Thryv Holdings, Inc. will post earnings per share of 0.91 for the current year. This projection reinforces positive sentiment regarding Thryv’s future prospects.
In conclusion, Thryv Holdings, Inc. has become an attractive prospect for both institutional investors and hedge funds thanks to its digital marketing solutions designed specifically for SMEs. The recent acquisitions of several investment entities reflect confidence in the company’s ability to generate solid returns in this evolving market landscape.
Thryv’s diverse portfolio of services enables it to effectively serve the needs of businesses looking for innovative marketing tools and cloud-based solutions. With a share price in the mid-$20s, Thryv remains promising yet affordable.
While market dynamics can fluctuate quickly and affect even well-performing companies like Thryv, these quarterly results highlight potential growth opportunities for investors willing to navigate this evolving landscape with caution. As we move into the digital age, companies that invest wisely in innovative marketing solutions can find themselves
