Marchex (NASDAQ:MCHX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Marchex (NASDAQ:MCHX - Free Report) in a report published on Saturday. The brokerage issued a hold rating on the technology company's stock.

Marchex Trading Up 3.1 %

Shares of MCHX stock traded up $0.05 during trading hours on Friday, reaching $1.49. 2,924 shares of the stock were exchanged, compared to its average volume of 42,489. Marchex has a 12-month low of $1.23 and a 12-month high of $2.40. The company's 50-day moving average price is $1.74 and its 200-day moving average price is $1.84. The firm has a market capitalization of $64.92 million, a price-to-earnings ratio of -16.50 and a beta of 1.71.

Marchex (NASDAQ:MCHX - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. The company had revenue of $11.92 million for the quarter, compared to the consensus estimate of $12.01 million. On average, sell-side analysts expect that Marchex will post -0.1 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $1.75 per share, with a total value of $121,094.75. Following the transaction, the insider now owns 1,391,535 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. 21.65% of the stock is currently owned by company insiders.

Institutional Trading of Marchex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kanen Wealth Management LLC acquired a new position in shares of Marchex in the 1st quarter valued at about $813,000. Arcadia Wealth Management Inc. acquired a new position in shares of Marchex in the 4th quarter valued at about $51,000. Millennium Management LLC lifted its holdings in shares of Marchex by 55.5% in the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company's stock valued at $37,000 after buying an additional 7,598 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Marchex by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock valued at $630,000 after buying an additional 12,255 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of Marchex in the 4th quarter valued at about $55,000. Institutional investors and hedge funds 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.