StockNews.com Initiates Coverage on Marchex (NASDAQ:MCHX)

Equities researchers at StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

Marchex Stock Performance

Shares of NASDAQ MCHX opened at $1.69 on Wednesday. The company has a market cap of $73.88 million, a price-to-earnings ratio of -18.78 and a beta of 1.87. The stock has a 50-day moving average price of $1.95 and a two-hundred day moving average price of $1.89. Marchex has a 12 month low of $1.20 and a 12 month 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 the consensus estimate of ($0.02) by ($0.02). Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. The firm had revenue of $11.92 million for the quarter, compared to analyst estimates of $12.01 million. On average, sell-side analysts predict that Marchex will post -0.1 earnings per share for the current year.

Insider Transactions at Marchex

In other news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of Marchex stock in a transaction dated Tuesday, March 25th. The shares were bought at an average cost of $1.75 per share, with a total value of $121,094.75. Following the purchase, the insider now owns 1,391,535 shares in the company, valued at $2,435,186.25. This trade represents a 5.23 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marchex

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of Marchex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after buying an additional 29,042 shares during the period. AMH Equity Ltd acquired a new position in Marchex during the 4th quarter worth approximately $438,000. LPL Financial LLC bought a new position in Marchex in the fourth quarter worth approximately $55,000. Millennium Management LLC grew 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 valued at $37,000 after acquiring an additional 7,598 shares during the period. Finally, Arcadia Wealth Management Inc. bought a new stake in shares of Marchex during the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.