Marchex (NASDAQ:MCHX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Marchex (NASDAQ:MCHX) in a research report released on Friday. The brokerage issued a hold rating on the technology company’s stock.

Marchex Price Performance

Shares of Marchex stock opened at $1.38 on Friday. The stock’s 50 day simple moving average is $1.82 and its 200-day simple moving average is $1.86. The stock 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.

Marchex (NASDAQ:MCHX) last released its quarterly earnings data 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 company had revenue of $11.92 million for the quarter, compared to analyst estimates of $12.01 million. As a group, research analysts expect that Marchex will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Marchex news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of Marchex stock in a transaction 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 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 21.65% of the stock is owned by company insiders.

Institutional Trading of Marchex

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its position in Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock valued at $37,000 after purchasing an additional 7,598 shares during the period. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex in the fourth quarter valued at $51,000. LPL Financial LLC purchased a new stake in shares of Marchex in the 4th quarter valued at $55,000. AMH Equity Ltd purchased a new stake in shares of Marchex in the 4th quarter valued at $438,000. Finally, Geode Capital Management LLC lifted its stake in Marchex by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock worth $630,000 after acquiring an additional 12,255 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.