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

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

Marchex Price Performance

Shares of MCHX opened at $1.85 on Wednesday. The firm has a market cap of $80.81 million, a P/E ratio of -20.55 and a beta of 1.91. The stock has a 50 day simple moving average of $1.79 and a two-hundred day simple moving average of $1.71. Marchex has a 1 year low of $1.11 and a 1 year high of $2.16.

Hedge Funds Weigh In On Marchex

An institutional investor recently raised its position in Marchex stock. P.A.W. Capital Corp grew its stake in shares of Marchex, Inc. (NASDAQ:MCHX) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,000 shares of the technology company’s stock after buying an additional 51,000 shares during the period. Marchex accounts for 1.5% of P.A.W. Capital Corp’s portfolio, making the stock its 13th biggest holding. P.A.W. Capital Corp owned 0.92% of Marchex worth $616,000 as of its most recent filing with the Securities & Exchange Commission. 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.