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

Stock analysts at StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX - Get Free Report) in a research note issued on Wednesday. The firm set a "hold" rating on the technology company's stock.

Marchex Stock Performance

Shares of MCHX opened at $1.64 on Wednesday. The firm has a market cap of $71.69 million, a P/E ratio of -18.22 and a beta of 1.78. Marchex has a 52 week low of $1.26 and a 52 week high of $2.40. The firm's 50-day simple moving average is $1.54 and its 200 day simple moving average is $1.79.

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

Insider Transactions at Marchex

In other news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of Marchex stock in a transaction dated Tuesday, March 25th. The stock was 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 in the company, valued at approximately $2,435,186.25. The trade was a 5.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.65% of the company's stock.

Institutional Investors Weigh In On Marchex

A number of institutional investors have recently made changes to their positions in MCHX. Jane Street Group LLC bought a new stake in shares of Marchex during the first quarter worth approximately $30,000. Millennium Management LLC raised its position 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 buying an additional 7,598 shares in the last quarter. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex in the fourth quarter valued at approximately $51,000. LPL Financial LLC acquired a new stake in shares of Marchex in the fourth quarter valued at approximately $55,000. Finally, AMH Equity Ltd acquired a new stake 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.

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