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

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

Marchex Price Performance

MCHX opened at $1.93 on Tuesday. The company has a fifty day moving average price of $1.98 and a 200-day moving average price of $1.89. The firm has a market capitalization of $84.31 million, a P/E ratio of -21.44 and a beta of 1.87. Marchex has a one year low of $1.20 and a one year high of $2.40.

Marchex (NASDAQ:MCHX) last announced its earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) 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 company had revenue of $11.92 million during the quarter, compared to analysts’ expectations of $12.01 million. On average, analysts expect that Marchex will post -0.1 earnings per share for the current year.

Institutional Trading of Marchex

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Marchex by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock valued at $630,000 after buying an additional 12,255 shares during the period. AMH Equity Ltd bought a new position in shares of Marchex during the fourth quarter valued at about $438,000. LPL Financial LLC bought a new position in shares of Marchex during the fourth quarter valued at about $55,000. Arcadia Wealth Management Inc. bought a new position in shares of Marchex during the fourth quarter valued at about $51,000. Finally, Millennium Management LLC raised its stake 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 valued at $37,000 after acquiring an additional 7,598 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other 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.