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

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

Marchex Price Performance

Shares of NASDAQ MCHX opened at $1.39 on Thursday. The company has a 50-day moving average price of $1.90 and a 200-day moving average price of $1.88. The stock has a market capitalization of $60.76 million, a P/E ratio of -15.44 and a beta of 1.87. Marchex has a 1 year low of $1.20 and a 1 year high of $2.40.

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

Insider Activity

In other Marchex news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of Marchex stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $1.75 per share, with a total value of $121,094.75. Following the completion of the acquisition, the insider now directly owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. The trade was a 5.23 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 21.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AMH Equity Ltd bought a new stake in shares of Marchex during the 4th quarter worth $438,000. LPL Financial LLC purchased a new stake in Marchex during the fourth quarter worth about $55,000. Arcadia Wealth Management Inc. bought a new stake in Marchex in the fourth quarter worth about $51,000. Geode Capital Management LLC boosted its stake in Marchex by 9.1% in the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock valued at $650,000 after acquiring an additional 29,042 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Marchex by 55.5% during the 4th 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. Institutional investors 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.