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

Investment analysts at StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a report issued on Friday. The firm set a “hold” rating on the technology company’s stock.

Marchex Trading Up 3.8 %

Marchex stock opened at $1.38 on Friday. The firm has a market cap of $60.33 million, a P/E ratio of -15.33 and a beta of 1.71. Marchex has a 1-year low of $1.20 and a 1-year high of $2.40. The firm has a 50-day moving average of $1.82 and a 200-day moving average of $1.86.

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

Insider Activity at Marchex

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 shares were bought 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 directly 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 position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.65% of the stock is owned by corporate insiders.

Institutional Trading of Marchex

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Marchex by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after purchasing an additional 29,042 shares in the last quarter. AMH Equity Ltd bought a new stake in Marchex in the fourth quarter worth $438,000. Millennium Management LLC grew its stake 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 acquiring an additional 7,598 shares during the last quarter. Arcadia Wealth Management Inc. bought a new position in shares of Marchex during the fourth quarter valued at $51,000. Finally, LPL Financial LLC purchased a new position in shares of Marchex in the 4th quarter worth about $55,000. 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.