Marchex (NASDAQ:MCHX) Coverage Initiated at StockNews.com

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

Marchex Price Performance

Shares of MCHX stock traded up $0.04 during trading hours on Friday, hitting $1.51. 656 shares of the company's stock were exchanged, compared to its average volume of 39,170. The stock has a market cap of $66.01 million, a price-to-earnings ratio of -16.78 and a beta of 1.71. The stock's 50-day moving average is $1.68 and its 200-day moving average is $1.82. Marchex has a 52 week low of $1.23 and a 52 week high of $2.40.

Marchex (NASDAQ:MCHX - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates 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 net margin of 8.60% and a negative return on equity of 10.76%. Equities research analysts forecast that Marchex will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of Marchex stock in a transaction on Tuesday, March 25th. The stock was purchased at an average price of $1.75 per share, with a total value of $121,094.75. Following the transaction, the insider now directly owns 1,391,535 shares in the company, valued at $2,435,186.25. The trade was a 5.23 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 21.65% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC bought a new position in shares of Marchex in the 1st quarter valued at about $813,000. Geode Capital Management LLC raised its stake in shares of Marchex by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock worth $630,000 after purchasing an additional 12,255 shares in the last quarter. AMH Equity Ltd acquired a new stake in shares of Marchex in the 4th quarter valued at approximately $438,000. LPL Financial LLC bought a new position in shares of Marchex in the fourth quarter valued at $55,000. Finally, Arcadia Wealth Management Inc. acquired a new position in Marchex during the fourth quarter worth $51,000. 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.