Marchex (NASDAQ:MCHX) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX) in a research note published on Saturday morning. The brokerage issued a hold rating on the technology company’s stock.

Marchex Stock Up 0.5 %

Marchex stock opened at $1.97 on Friday. The company has a market capitalization of $86.05 million, a PE ratio of -21.89 and a beta of 1.92. Marchex has a 12-month low of $1.11 and a 12-month high of $2.40. The firm’s fifty day moving average is $1.97 and its 200 day moving average is $1.89.

Hedge Funds Weigh In On Marchex

A number of institutional investors and hedge funds have recently made changes to their positions in MCHX. Geode Capital Management LLC increased its position in Marchex by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock valued at $630,000 after buying an additional 12,255 shares in the last quarter. AMH Equity Ltd bought a new stake in shares of Marchex during the fourth quarter valued at approximately $438,000. LPL Financial LLC bought a new stake in shares of Marchex during the fourth quarter valued at approximately $55,000. Finally, Millennium Management LLC raised 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 purchasing an additional 7,598 shares during the period. Institutional investors 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.