Marchex (NASDAQ:MCHX) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Marchex (NASDAQ:MCHX) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Marchex in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Marchex Stock Down 1.1%

MCHX stock opened at $1.71 on Tuesday. The company has a 50-day simple moving average of $1.87 and a 200 day simple moving average of $1.86. The company has a market capitalization of $75.59 million, a P/E ratio of -15.55 and a beta of 1.95. Marchex has a fifty-two week low of $1.26 and a fifty-two week high of $2.40.

Hedge Funds Weigh In On Marchex

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kanen Wealth Management LLC bought a new position in Marchex in the 1st quarter worth approximately $813,000. Edenbrook Capital LLC lifted its stake in shares of Marchex by 0.7% during the first quarter. Edenbrook Capital LLC now owns 14,664,380 shares of the technology company’s stock valued at $23,903,000 after acquiring an additional 102,475 shares during the period. Acuitas Investments LLC bought a new position in Marchex in the second quarter valued at about $141,000. AMH Equity Ltd increased its position in Marchex by 28.2% in the second quarter. AMH Equity Ltd now owns 278,276 shares of the technology company’s stock worth $609,000 after purchasing an additional 61,163 shares during the period. Finally, Manatuck Hill Partners LLC bought a new stake in Marchex during the 2nd quarter worth about $88,000. Institutional investors and hedge funds 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.