Marchex (NASDAQ:MCHX) Now Covered by StockNews.com

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

Marchex Trading Down 7.1 %

Shares of MCHX stock opened at $1.31 on Monday. Marchex has a 12-month low of $1.23 and a 12-month high of $2.40. The business’s 50 day moving average is $1.63 and its two-hundred day moving average is $1.81. The company has a market capitalization of $57.27 million, a P/E ratio of -14.55 and a beta of 1.78.

Marchex (NASDAQ:MCHX) last announced its earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 8.60% and a negative return on equity of 10.76%. On average, research analysts predict that Marchex will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the transaction, the insider now owns 1,391,535 shares of the company’s stock, valued at $2,435,186.25. This trade represents a 5.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 21.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Marchex by 9.1% during the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after buying an additional 29,042 shares in the last quarter. AMH Equity Ltd acquired a new position in Marchex during the fourth quarter worth about $438,000. LPL Financial LLC purchased a new stake in Marchex during the 4th quarter valued at about $55,000. Millennium Management LLC raised its holdings in Marchex by 55.5% in the 4th 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 last quarter. Finally, Arcadia Wealth Management Inc. purchased a new position in Marchex in the 4th quarter worth approximately $51,000. 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.