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

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

Marchex Stock Up 1.7 %

NASDAQ:MCHX opened at $1.54 on Friday. The company’s 50 day moving average is $1.69 and its 200-day moving average is $1.82. The firm has a market cap of $67.10 million, a price-to-earnings ratio of -17.05 and a beta of 1.71. Marchex has a 12 month low of $1.23 and a 12 month high of $2.40.

Marchex (NASDAQ:MCHX) last announced its earnings results on Thursday, March 6th. The technology company reported ($0.04) EPS 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 during the quarter, compared to the consensus estimate of $12.01 million. Research analysts predict that Marchex will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Marchex

In related news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were bought at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the acquisition, the insider now owns 1,391,535 shares in the company, valued at $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 is accessible through the SEC website. Insiders own 21.65% of the company’s stock.

Institutional Investors Weigh In On Marchex

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 29,042 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. Millennium Management LLC raised its stake in shares of Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock valued at $37,000 after purchasing an additional 7,598 shares in the last quarter. Kanen Wealth Management LLC bought a new position in Marchex in the first quarter worth $813,000. Finally, Arcadia Wealth Management Inc. acquired a new stake in Marchex during the fourth quarter worth $51,000. 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.