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

Analysts at StockNews.com started 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 Trading Down 0.6 %

NASDAQ:MCHX opened at $1.67 on Monday. Marchex has a 1 year low of $1.11 and a 1 year high of $2.16. The stock has a 50-day moving average price of $1.79 and a two-hundred day moving average price of $1.67. The stock has a market cap of $72.95 million, a price-to-earnings ratio of -18.55 and a beta of 1.96.

Institutional Investors Weigh In On Marchex

An institutional investor recently raised its position in Marchex stock. P.A.W. Capital Corp boosted its position in shares of Marchex, Inc. (NASDAQ:MCHX) by 14.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the technology company’s stock after purchasing an additional 51,000 shares during the period. Marchex comprises 1.5% of P.A.W. Capital Corp’s holdings, making the stock its 13th largest position. P.A.W. Capital Corp owned approximately 0.92% of Marchex worth $616,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.