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

Analysts at StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a report released on Wednesday. The firm set a “hold” rating on the technology company’s stock.

Marchex Trading Down 4.3 %

Shares of MCHX opened at $1.77 on Wednesday. The stock has a market capitalization of $77.37 million, a price-to-earnings ratio of -19.66 and a beta of 1.87. Marchex has a 12 month low of $1.20 and a 12 month high of $2.40. The firm has a fifty day simple moving average of $1.96 and a 200 day simple moving average of $1.89.

Marchex (NASDAQ:MCHX) last posted its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $11.92 million for the quarter, compared to analyst estimates of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. As a group, research analysts predict that Marchex will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MCHX. AMH Equity Ltd bought a new stake in shares of Marchex during the 4th quarter worth approximately $438,000. LPL Financial LLC acquired a new position in Marchex during the fourth quarter worth $55,000. Arcadia Wealth Management Inc. acquired a new position in Marchex during the fourth quarter worth $51,000. Geode Capital Management LLC raised its position in Marchex by 9.1% during the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after acquiring an additional 29,042 shares in the last quarter. Finally, Millennium Management LLC lifted 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 last quarter. 73.46% of the stock is currently 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.