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

StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a research report report published on Friday. The firm issued a hold rating on the technology company’s stock.

Marchex Stock Performance

Shares of MCHX stock opened at $1.38 on Friday. Marchex has a fifty-two week low of $1.20 and a fifty-two week high of $2.40. The firm has a market capitalization of $60.33 million, a PE ratio of -15.33 and a beta of 1.71. The stock’s 50-day simple moving average is $1.82 and its 200-day simple moving average is $1.86.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings results 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 business had revenue of $11.92 million during the quarter, compared to analyst estimates of $12.01 million. Sell-side analysts forecast that Marchex will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the transaction, the insider now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake 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 purchasing an additional 29,042 shares in the last quarter. AMH Equity Ltd purchased a new stake in Marchex during the 4th quarter worth approximately $438,000. LPL Financial LLC acquired a new position in shares of Marchex during the fourth quarter valued at approximately $55,000. Millennium Management LLC raised its holdings 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 last quarter. Finally, Arcadia Wealth Management Inc. purchased a new position in shares of Marchex in the fourth quarter valued at approximately $51,000. Hedge funds and other 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.