Marchex (NASDAQ:MCHX) Cut to “Hold” at Zacks Research

Marchex (NASDAQ:MCHX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Marchex in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Marchex Trading Down 1.1%

Shares of NASDAQ MCHX opened at $1.71 on Tuesday. The firm’s 50-day moving average price is $1.87 and its 200-day moving average price is $1.86. The stock has a market capitalization of $75.59 million, a price-to-earnings ratio of -15.55 and a beta of 1.95. Marchex has a 12-month low of $1.26 and a 12-month high of $2.40.

Hedge Funds Weigh In On Marchex

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in Marchex in the 1st quarter worth about $30,000. Manatuck Hill Partners LLC bought a new position in Marchex in the 2nd quarter worth about $88,000. Marathon Capital Management grew its stake in Marchex by 30.1% in the 2nd quarter. Marathon Capital Management now owns 54,000 shares of the technology company’s stock worth $117,000 after acquiring an additional 12,500 shares in the last quarter. Acuitas Investments LLC bought a new position in Marchex in the 2nd quarter worth about $141,000. Finally, AMH Equity Ltd grew its stake in Marchex by 28.2% in the 2nd quarter. AMH Equity Ltd now owns 278,276 shares of the technology company’s stock worth $609,000 after acquiring an additional 61,163 shares in 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.