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

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

Marchex Trading Up 0.5 %

Marchex stock opened at $1.97 on Friday. The stock has a market cap of $86.05 million, a PE ratio of -21.89 and a beta of 1.92. The stock has a 50-day moving average price of $1.97 and a 200 day moving average price of $1.89. Marchex has a 52 week low of $1.11 and a 52 week high of $2.40.

Institutional Trading of Marchex

A number of institutional investors have recently modified their holdings of MCHX. Millennium Management LLC lifted its position in Marchex by 55.5% during the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after acquiring an additional 7,598 shares in the last quarter. LPL Financial LLC acquired a new position in Marchex during the 4th quarter worth approximately $55,000. AMH Equity Ltd acquired a new position in Marchex during the 4th quarter worth approximately $438,000. Finally, Geode Capital Management LLC lifted its position in Marchex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after acquiring an additional 29,042 shares in the last quarter. 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.