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

StockNews.com started coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

Marchex Stock Performance

MCHX stock opened at $1.52 on Thursday. The company has a market cap of $66.45 million, a price-to-earnings ratio of -16.89 and a beta of 1.87. The business’s 50-day moving average is $1.93 and its two-hundred day moving average is $1.88. Marchex has a fifty-two week low of $1.20 and a fifty-two week high of $2.40.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $11.92 million during the quarter, compared to the consensus estimate of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. Equities analysts predict that Marchex will post -0.1 earnings per share for the current year.

Insider Activity

In related news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average cost of $1.75 per share, with a total value of $121,094.75. Following the transaction, the insider now directly 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 21.65% of the company’s stock.

Institutional Investors Weigh In On Marchex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after purchasing an additional 7,598 shares during the period. Geode Capital Management LLC lifted its stake in shares of Marchex by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock valued at $630,000 after buying an additional 12,255 shares in the last quarter. Arcadia Wealth Management Inc. purchased a new position in shares of Marchex during the 4th quarter valued at $51,000. LPL Financial LLC bought a new position in Marchex in the 4th quarter worth $55,000. Finally, AMH Equity Ltd purchased a new stake in Marchex in the 4th quarter worth $438,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.