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

Stock analysts at StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the technology company’s stock.

Marchex Stock Up 3.8 %

Shares of NASDAQ MCHX opened at $1.93 on Tuesday. Marchex has a twelve month low of $1.20 and a twelve month high of $2.40. The stock’s 50 day moving average price is $1.98 and its 200-day moving average price is $1.89. The company has a market capitalization of $84.31 million, a PE ratio of -21.44 and a beta of 1.87.

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

Institutional Investors Weigh In On Marchex

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings 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 during the period. AMH Equity Ltd bought a new stake in shares of Marchex in the 4th quarter worth approximately $438,000. Arcadia Wealth Management Inc. bought a new stake in shares of Marchex in the 4th quarter worth approximately $51,000. Millennium Management LLC raised its holdings in Marchex by 55.5% during 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 period. Finally, LPL Financial LLC bought a new stake in Marchex during the 4th quarter valued at $55,000. 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.