Marchex (NASDAQ:MCHX) Now Covered by StockNews.com

Analysts at StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued to investors on Monday. The firm set a “hold” rating on the technology company’s stock.

Marchex Stock Performance

MCHX stock opened at $2.00 on Monday. Marchex has a fifty-two week low of $1.11 and a fifty-two week high of $2.40. The company’s 50 day moving average price is $1.98 and its 200 day moving average price is $1.89. The firm has a market capitalization of $87.36 million, a price-to-earnings ratio of -22.22 and a beta of 1.87.

Marchex (NASDAQ:MCHX) last posted its 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). The business had revenue of $11.92 million for the quarter, compared to analysts’ expectations of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. Equities analysts forecast that Marchex will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Marchex

Several large investors have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Marchex by 55.5% during 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 during the last quarter. Arcadia Wealth Management Inc. purchased a new position in shares of Marchex in the 4th quarter valued at about $51,000. LPL Financial LLC acquired a new stake in shares of Marchex in the 4th quarter worth approximately $55,000. AMH Equity Ltd acquired a new position in shares of Marchex during the 4th quarter worth $438,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Marchex by 9.1% in the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock valued at $650,000 after purchasing an additional 29,042 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.