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

StockNews.com started coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued to investors on Wednesday. The firm issued a hold rating on the technology company’s stock.

Marchex Stock Down 0.6 %

Shares of Marchex stock opened at $1.68 on Wednesday. Marchex has a 12-month low of $1.20 and a 12-month high of $2.40. The stock has a market capitalization of $73.44 million, a P/E 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 (NASDAQ:MCHX) last posted 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 return on equity of 10.76% and a negative net margin of 8.60%. The firm had revenue of $11.92 million for the quarter, compared to analyst estimates of $12.01 million. On average, equities analysts anticipate that Marchex will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Marchex

In related news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the stock in a transaction on Tuesday, March 25th. The stock was purchased at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the transaction, the insider now owns 1,391,535 shares of the company’s stock, valued at $2,435,186.25. The trade was a 5.23 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.65% of the company’s stock.

Hedge Funds Weigh In On Marchex

A number of large investors have recently modified their holdings of MCHX. AMH Equity Ltd bought a new position in Marchex in the 4th quarter worth approximately $438,000. LPL Financial LLC bought a new position in Marchex in the 4th quarter valued at $55,000. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex in the 4th quarter valued at $51,000. Geode Capital Management LLC raised its position in shares of Marchex by 9.1% during the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after acquiring an additional 29,042 shares during the last quarter. Finally, Millennium Management LLC lifted its stake 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 valued at $37,000 after acquiring an additional 7,598 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.