Marchex (NASDAQ:MCHX) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the technology company’s stock.

Marchex Stock Down 6.1 %

Shares of NASDAQ MCHX opened at $1.39 on Thursday. Marchex has a 52-week low of $1.20 and a 52-week high of $2.40. The business’s 50 day moving average is $1.90 and its two-hundred day moving average is $1.88. The firm has a market cap of $60.76 million, a price-to-earnings ratio of -15.44 and a beta of 1.87.

Marchex (NASDAQ:MCHX) last posted its earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $11.92 million for the quarter, compared to analyst estimates of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. Analysts anticipate that Marchex will post -0.1 EPS for the current fiscal year.

Insider Activity at Marchex

In related news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the acquisition, the insider now owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. This trade represents a 5.23 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 21.65% of the company’s stock.

Institutional Investors Weigh In On Marchex

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its position in shares of Marchex by 55.5% during the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after buying an additional 7,598 shares in the last quarter. Arcadia Wealth Management Inc. purchased a new position in Marchex in the fourth quarter worth approximately $51,000. LPL Financial LLC acquired a new position in Marchex during the 4th quarter worth approximately $55,000. AMH Equity Ltd purchased a new stake in shares of Marchex in the 4th quarter valued at approximately $438,000. Finally, Geode Capital Management LLC raised its holdings in shares of Marchex by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock valued at $650,000 after purchasing an additional 29,042 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Marchex Company Profile

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.