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

StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a report issued on Thursday morning. The firm issued a hold rating on the technology company’s stock.

Marchex Trading Down 6.1 %

Shares of Marchex stock opened at $1.39 on Thursday. The firm has a market capitalization of $60.76 million, a PE ratio of -15.44 and a beta of 1.87. Marchex has a 12 month low of $1.20 and a 12 month high of $2.40. The business’s 50-day moving average price is $1.90 and its 200-day moving average price is $1.88.

Marchex (NASDAQ:MCHX) last posted its quarterly earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $12.01 million. As a group, analysts predict that Marchex will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In other Marchex news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of Marchex stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the acquisition, the insider now directly owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. This trade represents a 5.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 21.65% of the company’s stock.

Hedge Funds Weigh In On Marchex

Several hedge funds have recently made changes to their positions in the business. AMH Equity Ltd purchased a new stake in Marchex in the fourth quarter worth $438,000. LPL Financial LLC bought a new position in Marchex in the 4th quarter worth $55,000. Arcadia Wealth Management Inc. purchased a new stake in shares of Marchex in the 4th quarter worth about $51,000. Geode Capital Management LLC increased its position in shares of Marchex by 9.1% during the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock valued at $650,000 after buying an additional 29,042 shares during the period. Finally, Millennium Management LLC raised its stake in 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 buying an additional 7,598 shares in the last quarter. 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.