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Thryv Holdings EVP James McCusker buys $23,628 in company stock

Published 06/12/2024, 09:25 PM

In a recent transaction on June 11, James McCusker, the Chief Revenue Officer and Executive Vice President of Thryv Holdings, Inc. (NASDAQ:THRY), purchased 1,200 shares of the company's common stock. The transaction was executed at an average price of $19.69 per share, resulting in a total investment of $23,628.

This acquisition by a key executive is a noteworthy event for investors and market watchers, as insider transactions are often closely monitored for insights into a company's performance and the confidence that its leadership has in the business's prospects.

Following this purchase, McCusker now directly owns a total of 97,907 shares in Thryv Holdings, Inc. The details of the transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission.

Thryv Holdings, Inc. is a company with a focus on marketing services and is recognized within the advertising industry under the SIC code 7310. The company, formerly known as Dex Media, Inc., has its headquarters in Dallas, Texas, and operates under the state laws of Delaware.

Investors often consider such insider buying as a positive sign that executives believe the stock is undervalued or that there are positive developments ahead for the company. However, it is important to note that there are many factors that can influence an insider's decision to buy stock, and such transactions do not always predict future stock performance.

The stock market will likely continue to watch the trading activity of Thryv Holdings' insiders for further indications of the company's direction and the confidence of its leadership team.

In other recent news, Thryv Holdings, a provider of SaaS solutions, has reported strong growth in its first quarter of 2024, with a significant increase in subscriber numbers and a 24% year-over-year rise in SaaS revenue to $74.3 million. The company ended the quarter with 70,000 clients and has raised its full-year guidance due to this robust performance. Thryv's CEO, Joe Walsh, noted the successful transition from Marketing Services to SaaS as a key driver of this accelerated growth.

In addition to these developments, Thryv has completed a refinancing that extends debt maturity and provides financial flexibility for future growth, investments, and a new share repurchase authorization. Looking forward, the company expects Q2 SaaS revenue to be between $77.5 million and $79.5 million, and has increased its full-year guidance for SaaS revenue to $326 million to $329 million.

Moreover, Thryv is actively exploring acquisitions of SaaS businesses to integrate into their offerings and has hired Rees Johnson, an experienced executive, to aid in its expansion. These are recent developments that underline Thryv's commitment to its SaaS transition and growth strategy.

InvestingPro Insights

Following the insider purchase by Thryv Holdings, Inc.'s (NASDAQ:THRY) Chief Revenue Officer, James McCusker, the market is keenly observing the company's financial health and future prospects. Here are some key metrics from InvestingPro that provide a snapshot of Thryv Holdings' current financial position:

  • The company's market capitalization stands at $701.21 million, which helps investors understand the company's size and market value.
  • Thryv Holdings has a Price to Earnings (P/E) Ratio of -2.66, indicating that the company has been unprofitable over the last twelve months.
  • With a Price to Book (P/B) Ratio of 4.19 as of the last twelve months, the stock may be seen as having a higher market value compared to its book value, which could suggest investor optimism about future growth.

Investors analyzing Thryv Holdings' stock performance will find that the company's shares have recently faced significant pressure, with a one-week price total return of -7.52% and a one-month price total return of -12.88%. This aligns with one of the InvestingPro Tips indicating that the stock has taken a big hit over the last week and has fared poorly over the last month.

Despite the recent downturn in share price, an InvestingPro Tip highlights that the company's liquid assets exceed its short-term obligations, which may provide some reassurance about the company's ability to meet its immediate financial commitments. Moreover, while analysts anticipate a sales decline in the current year, they also predict that the company will be profitable this year, which could be a pivotal factor for future performance.

For those interested in a deeper analysis of Thryv Holdings, Inc., InvestingPro offers additional tips. There are currently 9 more InvestingPro Tips available, which can be accessed by visiting: https://www.investing.com/pro/THRY. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing investors with comprehensive insights and data to make informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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