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 sent to investors on Saturday morning. The firm issued a hold rating on the technology company’s stock.

Marchex Price Performance

MCHX opened at $1.97 on Friday. Marchex has a fifty-two week low of $1.11 and a fifty-two week high of $2.40. The firm has a market capitalization of $86.05 million, a P/E ratio of -21.89 and a beta of 1.92. The company’s 50-day moving average is $1.97 and its 200 day moving average is $1.89.

Hedge Funds Weigh In On Marchex

Several institutional investors have recently modified their holdings of MCHX. Geode Capital Management LLC lifted its holdings in Marchex by 3.5% during the fourth 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 during the period. AMH Equity Ltd bought a new position in Marchex in the 4th quarter valued at $438,000. LPL Financial LLC purchased a new stake in shares of Marchex during the 4th quarter valued at $55,000. Finally, Millennium Management LLC raised its stake in shares of Marchex by 55.5% during the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after purchasing an additional 7,598 shares during the period. 73.46% of the stock is owned by institutional investors.

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.