THRY

Thryv Holdings($THRY) Chairman Buys 25,000 Shares Despite 50% Stock Plunge - Value Opportunity?

11/10/2025 22:58

$THRY is attracting investor attention as insider buying activity intensifies amid a 50%+ stock price decline, with Chairman Joe Walsh leading aggressive purchases. Thryv Holdings, with a market cap of approximately $300 million, provides digital marketing and customer management solutions for small businesses. The company has transformed from its Yellow Pages origins into a modern marketing platform helping local businesses find and manage customers online. The most striking pattern is Chairman Joe Walsh's buying behavior. Between September 2024 and November 2025, he purchased 44,500 shares across five transactions, increasing his buying volume as the stock price declined. Starting with 1,500 shares at $17.05 in September 2024, he escalated to 5,000 shares at $16.45 in March 2025, another 5,000 at $13.40 in May, 8,000 at $12.90 in August, and culminating with 25,000 shares at $6.51 in November. This represents significant capital commitment, with his November purchase alone worth $162,750 and total purchases exceeding $280,000. More importantly, his dollar-cost averaging strategy during the decline suggests strong conviction in the company's undervaluation. Walsh isn't alone. Director John Slater made consistent purchases throughout 2024-2025, while President Grant Freeman and Director Bonnie Kintzer also bought during the downturn. Notably, all purchases were voluntary transactions, not automated 10b5-1 plan executions. The stock's precipitous fall stemmed from an October 2024 discounted equity offering. The company issued 5.7 million shares at $14 per share to fund the Infusion Software acquisition, representing a 22% discount to the then-$18 trading price. Markets interpreted this as shareholder dilution, triggering the selloff. However, recent earnings paint a more nuanced picture. Q2 2025 results showed EPS of $0.31, beating the $0.25 estimate, with revenue of $210.47 million exceeding expectations. Analysts maintain 'buy' ratings with a $22.50 median price target, implying 46% upside from current levels. Key indicators for investors include continued insider buying patterns, particularly Walsh's next moves, and whether the Infusion Software acquisition delivers meaningful revenue and profitability improvements. If the company successfully expands its digital marketing solutions market share, current prices could represent an attractive entry point. Cautionary signals would include cessation of insider buying or additional funding needs without operational improvements. Small business marketing services are typically first to face budget cuts during economic downturns, making the company sensitive to macroeconomic shifts. Looking ahead, the bull case involves rapid Infusion Software synergies driving revenue growth and margin expansion, potentially validating analyst price targets. The base case suggests gradual recovery from current levels, while the bear case involves additional dilutive financing needs. The persistent insider buying, led by top management investing their own capital at scale, signals strong confidence in long-term prospects. However, given small-cap growth stock volatility, careful risk management remains essential for potential investors considering this apparent value opportunity.