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

Equities researchers at StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a research report issued on Sunday. The firm set a “hold” rating on the technology company’s stock.

Marchex Stock Performance

MCHX opened at $1.84 on Friday. The firm has a market cap of $80.37 million, a P/E ratio of -20.44 and a beta of 1.96. The business has a 50 day moving average price of $1.80 and a 200 day moving average price of $1.65. Marchex has a twelve month low of $1.11 and a twelve month high of $2.16.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $12.07 million during the quarter, compared to analysts’ expectations of $12.14 million. Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, analysts anticipate that Marchex will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marchex

A hedge fund recently raised its stake in Marchex stock. P.A.W. Capital Corp raised its holdings in shares of Marchex, Inc. (NASDAQ:MCHX) by 14.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 400,000 shares of the technology company’s stock after buying an additional 51,000 shares during the quarter. Marchex comprises 1.5% of P.A.W. Capital Corp’s investment portfolio, making the stock its 13th largest holding. P.A.W. Capital Corp owned approximately 0.92% of Marchex worth $616,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.