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

Stock analysts at StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued on Wednesday. The firm set a “hold” rating on the technology company’s stock.

Marchex Stock Performance

Shares of MCHX stock opened at $1.69 on Wednesday. The firm has a market cap of $73.88 million, a price-to-earnings ratio of -18.78 and a beta of 1.87. Marchex has a 52 week low of $1.20 and a 52 week high of $2.40. The firm’s 50-day simple moving average is $1.95 and its two-hundred day simple moving average is $1.89.

Marchex (NASDAQ:MCHX) last posted its quarterly earnings data 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 net margin of 8.60% and a negative return on equity of 10.76%. The firm had revenue of $11.92 million during the quarter, compared to analysts’ expectations of $12.01 million. Analysts forecast that Marchex will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In other Marchex news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the business’s stock in a transaction that occurred on 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 acquisition, the insider now owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. This represents a 5.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marchex

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 29,042 shares in the last quarter. AMH Equity Ltd purchased a new position in Marchex during the 4th quarter valued at about $438,000. LPL Financial LLC bought a new stake in shares of Marchex during the fourth quarter valued at about $55,000. Millennium Management LLC grew its stake in 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 in the last quarter. Finally, Arcadia Wealth Management Inc. purchased a new position in Marchex during 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.