StockNews.com Begins Coverage on Marchex (NASDAQ:MCHX)

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

Marchex Trading Down 2.4 %

MCHX stock opened at $2.07 on Thursday. The firm has a 50 day moving average of $1.82 and a 200-day moving average of $1.74. The firm has a market capitalization of $90.42 million, a P/E ratio of -23.00 and a beta of 1.91. Marchex has a 12 month low of $1.11 and a 12 month high of $2.40.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Marchex stock. Geode Capital Management LLC boosted its holdings in shares of Marchex, Inc. (NASDAQ:MCHX) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 347,386 shares of the technology company’s stock after buying an additional 29,042 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Marchex worth $650,000 as of its most recent SEC filing. 73.46% of the stock is currently 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.