Marchex (NASDAQ:MCHX) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a report issued on Tuesday morning. The firm issued a hold rating on the technology company’s stock.

Marchex Stock Performance

Shares of NASDAQ:MCHX opened at $1.45 on Tuesday. The business’s 50 day simple moving average is $1.58 and its two-hundred day simple moving average is $1.80. The firm has a market cap of $63.39 million, a P/E ratio of -16.11 and a beta of 1.78. Marchex has a 52-week low of $1.24 and a 52-week high of $2.40.

Marchex (NASDAQ:MCHX) last announced its quarterly 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). The firm had revenue of $11.92 million during the quarter, compared to the consensus estimate of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. On average, equities analysts forecast that Marchex will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were bought at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the acquisition, the insider now directly owns 1,391,535 shares of the company’s stock, valued at $2,435,186.25. This trade represents a 5.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 21.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 7,598 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Marchex by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock valued at $630,000 after purchasing an additional 12,255 shares in the last quarter. Arcadia Wealth Management Inc. bought a new position in shares of Marchex in the fourth quarter valued at approximately $51,000. LPL Financial LLC bought a new position in shares of Marchex in the fourth quarter valued at approximately $55,000. Finally, AMH Equity Ltd bought a new position in shares of Marchex in the fourth quarter valued at approximately $438,000. 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.