Synovus Financial Corp Acquires 34,802 Shares of Marchex, Inc. (NASDAQ:MCHX)

Synovus Financial Corp grew its holdings in Marchex, Inc. (NASDAQ:MCHX) by 25.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,577 shares of the technology company’s stock after purchasing an additional 34,802 shares during the period. Synovus Financial Corp owned approximately 0.40% of Marchex worth $502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCHX. TFS Capital LLC acquired a new position in shares of Marchex in the first quarter worth $118,000. Algert Global LLC acquired a new stake in shares of Marchex in the first quarter valued at about $130,000. Bank of America Corp DE grew its position in shares of Marchex by 2.8% in the first quarter. Bank of America Corp DE now owns 48,573 shares of the technology company’s stock valued at $132,000 after purchasing an additional 1,331 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Marchex in the second quarter valued at about $312,000. Finally, Weiss Multi Strategy Advisers LLC grew its position in shares of Marchex by 104.2% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 130,000 shares of the technology company’s stock valued at $354,000 after purchasing an additional 66,352 shares during the last quarter. Institutional investors own 49.69% of the company’s stock.

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Marchex, Inc. (NASDAQ:MCHX) opened at 3.14 on Friday. The company’s market cap is $134.25 million. The firm’s 50-day moving average is $2.97 and its 200-day moving average is $2.84. Marchex, Inc. has a 52 week low of $2.46 and a 52 week high of $3.75.

Marchex (NASDAQ:MCHX) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $22.02 million during the quarter, compared to the consensus estimate of $21.97 million. Marchex had a negative net margin of 15.53% and a negative return on equity of 10.65%. The company’s revenue was down 36.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. On average, analysts expect that Marchex, Inc. will post ($0.05) EPS for the current fiscal year.

MCHX has been the topic of several research analyst reports. ValuEngine raised Marchex from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Marchex from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research note on Wednesday, August 9th.

Marchex Company Profile

Marchex, Inc is a mobile advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. Its media analytics products can provide actionable intelligence on media channels advertisers use to acquire customers over the phone. Its Marchex Omnichannel Analytics Cloud helps marketers connect customer conversions driven from paid media channels, including search, display and video, social and sites, to phone calls made to a business.

Institutional Ownership by Quarter for Marchex (NASDAQ:MCHX)

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