Marchex (NASDAQ:MCHX) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a research report released on Wednesday morning. The brokerage issued a hold rating on the technology company’s stock.

Marchex Price Performance

NASDAQ MCHX opened at $1.68 on Wednesday. The firm has a market capitalization of $73.44 million, a price-to-earnings ratio of -18.66 and a beta of 1.87. The company has a 50 day simple moving average of $1.95 and a 200-day simple moving average of $1.89. Marchex has a 52-week low of $1.20 and a 52-week high of $2.40.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. The business had revenue of $11.92 million for the quarter, compared to the consensus estimate of $12.01 million. On average, analysts predict that Marchex will post -0.1 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the purchase, the insider now owns 1,391,535 shares of the company’s stock, valued at $2,435,186.25. This trade represents a 5.23 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marchex

A number of institutional investors have recently bought and sold shares of MCHX. Geode Capital Management LLC lifted its holdings in shares of Marchex by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock worth $630,000 after acquiring an additional 12,255 shares during the period. AMH Equity Ltd acquired a new position in Marchex in the fourth quarter worth about $438,000. LPL Financial LLC bought a new position in Marchex during the fourth quarter worth about $55,000. Arcadia Wealth Management Inc. acquired a new stake in Marchex during the fourth quarter valued at approximately $51,000. Finally, Millennium Management LLC grew its stake in shares of Marchex by 55.5% in the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock valued at $37,000 after purchasing an additional 7,598 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Marchex

Marchex, Inc, a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally. Its products include Marketing Edge that identifies which campaigns and channels are driving inbound conversations, evaluates what happens during those conversations, and closes the sales loop by connecting converted sales to marketing driven leads; Sonar Business Text Messaging, an artificial intelligence (AI) empowered intelligent workflow enabled mobile messaging solution that enables operations, sales, and marketing teams to communicate personally with field staff, prospects, and customers; Marchex Platform Services, a robust API-based conversation intelligence product that allows executives, sales, customer engagement, and marketing teams to apply Marchex AI to most any calls, regardless of communication platform, in order to identify actionable insights from conversations with their customers; Spotlight, an AI conversation analytics product for multi-location businesses; and Engage, a solution that provides locations with applications to enhance their overall performance.