Here’s Why Thryv Holdings (THRY) Outperformed in Q1
Liberty Park Capital Management, LLC, a financial management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 7.45%, net of fees, in the first quarter compared to the Russell 2000 Index’s 2.74% return. The long position of the fund gained 6.02% while the short position fell 1.25% in the quarter. The long position contributed 6.16% and the short position contributed 1.08% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 0.57%, net of fees in the first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Liberty Park Capital highlighted stocks like Thryv Holdings, Inc. (NASDAQ:THRY) in the first quarter 2023 investor letter. Headquartered in DFW Airport, Texas, Thryv Holdings, Inc. (NASDAQ:THRY) is a digital marketing solutions and cloud-based tools provider. On May 02, 2023, Thryv Holdings, Inc. (NASDAQ:THRY) stock closed at $22.60 per share. One-month return of Thryv Holdings, Inc. (NASDAQ:THRY) was 0.09%, and its shares lost 15.67% of their value over the last 52 weeks. Thryv Holdings, Inc. (NASDAQ:THRY) has a market capitalization of $785.305 million.
Liberty Park Capital made the following comment about Thryv Holdings, Inc. (NASDAQ:THRY) in its Q1 2023 investor letter:
"We are pleased that Liberty Park Fund, LP has gotten off to a strong start in 2023. January was a particularly strong month for both of our funds, and LPF was able to use the market’s strength to install several new short positions; those positions greatly helped the portfolio in February and March as the market receded.
Thryv Holdings, Inc. (NASDAQ:THRY) reported a better-than-expected fourth quarter in which its marketing services segment grew (vs. a forecasted decline of ~20% a year). Despite the better-than-expected results for marketing services, we expect the revenue contribution from the company’s SAAS segment to surpass revenues from marketing services this year. We expect this change in mix to cause a significant reweighting in the price of THRY shares."
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Thryv Holdings, Inc. (NASDAQ:THRY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Thryv Holdings, Inc. (NASDAQ:THRY) at the end of the fourth quarter which was 20 in the previous quarter.
We discussed Thryv Holdings, Inc. (NASDAQ:THRY) in another article and shared Laughing Water Capital’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
