Marchex (NASDAQ:MCHX) Issues Quarterly Earnings Results

Marchex (NASDAQ:MCHX) posted its quarterly earnings data on Thursday. The technology company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03), Zacks reports. Marchex had a negative net margin of 9.76% and a negative return on equity of 12.76%. The company had revenue of $11.51 million for the quarter, compared to analyst estimates of $11.93 million.

Marchex Stock Down 3.8%

MCHX opened at $1.54 on Friday. Marchex has a 52-week low of $1.26 and a 52-week high of $2.40. The company has a 50 day moving average of $1.83 and a two-hundred day moving average of $1.86. The company has a market cap of $68.04 million, a P/E ratio of -14.00 and a beta of 1.95.

Analyst Ratings Changes

A number of research firms recently issued reports on MCHX. Weiss Ratings restated a “sell (d-)” rating on shares of Marchex in a report on Wednesday, October 8th. Zacks Research cut shares of Marchex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce”.

Institutional Trading of Marchex

Institutional investors have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC acquired a new position in Marchex during the 1st quarter worth approximately $813,000. Manatuck Hill Partners LLC purchased a new position in shares of Marchex in the second quarter valued at $88,000. Finally, Jane Street Group LLC purchased a new stake in Marchex during the 1st quarter worth $30,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.