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

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

Marchex Stock Down 4.8 %

Shares of Marchex stock opened at $2.00 on Monday. Marchex has a fifty-two week low of $1.11 and a fifty-two week high of $2.40. The business’s fifty day moving average is $1.97 and its two-hundred day moving average is $1.89. The firm has a market cap of $87.36 million, a PE ratio of -22.22 and a beta of 1.87.

Marchex (NASDAQ:MCHX) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. Equities research analysts anticipate that Marchex will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Marchex

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Marchex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock valued at $650,000 after buying an additional 29,042 shares during the period. AMH Equity Ltd acquired a new position in Marchex in the fourth quarter valued at $438,000. Millennium Management LLC grew its position 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 during the period. Arcadia Wealth Management Inc. acquired a new stake in Marchex during the fourth quarter worth about $51,000. Finally, LPL Financial LLC purchased a new position in shares of Marchex in the 4th quarter worth about $55,000. Hedge funds and other institutional investors 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.