Marchex (NASDAQ:MCHX) Cut to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of Marchex (NASDAQ:MCHX) from a buy rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

According to Zacks, “Marchex is a leading mobile and online advertising company that drives millions of consumers to connect with businesses over the phone, delivers the most quality phone calls in the industry, and provides in-depth analysis of those phone calls. Through their robust platform, they offer three critical components for businesses looking to acquire new customers through phone calls. Marchex Call Analytics offers ad campaign measurement and intelligence and their Digital Call Marketplace and Local Leads solutions are designed for advertisers focused on new customer acquisition. The Marchex platform drives, measures and monetizes millions of mobile and online connections through the phone to advertisers each month. Their Digital Call Marketplace combines exclusive and preferred relationships with leading mobile carriers and mobile application developers, such as AT&T, Verizon, and Sprint, with the analytics technology to constantly measure and optimize ad campaign results. “

Separately, ValuEngine upgraded Marchex from a hold rating to a buy rating in a research note on Tuesday, February 4th.

Shares of Marchex stock opened at $3.00 on Thursday. The firm has a market cap of $129.28 million, a P/E ratio of -33.33 and a beta of 1.53. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.06. Marchex has a 12 month low of $2.85 and a 12 month high of $5.57. The stock’s fifty day moving average price is $3.52 and its 200-day moving average price is $3.54.

In related news, major shareholder Edenbrook Capital, Llc bought 10,119 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $3.97 per share, for a total transaction of $40,172.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Long Only Value Fund Edenbrook bought 55,981 shares of the business’s stock in a transaction on Friday, January 17th. The stock was bought at an average price of $3.57 per share, for a total transaction of $199,852.17. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,253,819 shares of company stock worth $4,125,820. Insiders own 18.43% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in Marchex by 3.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,587,172 shares of the technology company’s stock valued at $9,780,000 after purchasing an additional 81,423 shares during the last quarter. Vanguard Group Inc. grew its stake in Marchex by 25.3% in the second quarter. Vanguard Group Inc. now owns 1,527,225 shares of the technology company’s stock valued at $7,178,000 after purchasing an additional 308,046 shares during the last quarter. Harbert Fund Advisors Inc. grew its stake in Marchex by 2.7% in the fourth quarter. Harbert Fund Advisors Inc. now owns 1,065,959 shares of the technology company’s stock valued at $4,029,000 after purchasing an additional 28,504 shares during the last quarter. P.A.W. Capital Corp grew its stake in Marchex by 1.5% in the third quarter. P.A.W. Capital Corp now owns 1,000,000 shares of the technology company’s stock valued at $3,140,000 after purchasing an additional 15,003 shares during the last quarter. Finally, Heartland Advisors Inc. grew its stake in Marchex by 11.1% in the fourth quarter. Heartland Advisors Inc. now owns 1,000,000 shares of the technology company’s stock valued at $3,780,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors own 66.32% of the company’s stock.

About Marchex

Marchex, Inc operates as a call analytics company that helps businesses connect, drive, measure, and convert callers into customers. Its products include Marchex Call Analytics, an analytics platform for enterprises that depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Speech Analytics that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, which enable businesses to send and receive text/SMS messages with customers; Call Monitoring; Marchex Omnichannel Analytics Cloud products, such as Marchex Search Analytics, a product for search marketers that drive phone calls from search campaigns, as well as Marchex Display and Video Analytics, a product for marketers that buy digital display advertising; Marchex Site Analytics, a product for marketers that can drive phone calls from Websites; and Marchex Social Analytics, a product for marketers that buy social media advertising.

Read More: What Does a Sell-Side Analyst Rating Mean?

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