Marchex (NASDAQ:MCHX) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Marchex has been upgraded to a "strong-buy" rating by Zacks Research, indicating a positive outlook from analysts.
• In contrast, Weiss Ratings has reissued a "sell (d-)" rating on Marchex, highlighting a divided opinion among analysts.
• Institutional investors hold 73.46% of Marchex shares, with significant increases in stakes from firms like Millennium Management and Edenbrook Capital.

Marchex (NASDAQ:MCHX - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Marchex in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy".

Marchex Stock Performance

Marchex stock opened at $1.83 on Monday. The firm's 50-day moving average is $1.94 and its 200-day moving average is $1.81. Marchex has a 1 year low of $1.26 and a 1 year high of $2.40. The company has a market cap of $80.85 million, a P/E ratio of -16.64 and a beta of 1.99.

Institutional Trading of Marchex

A number of institutional investors and hedge funds have recently modified their holdings of MCHX. Millennium Management LLC lifted its stake 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 worth $37,000 after buying an additional 7,598 shares during the last quarter. Kanen Wealth Management LLC bought a new stake in Marchex in the 1st quarter valued at $813,000. Edenbrook Capital LLC increased its holdings in Marchex by 0.7% in the 1st quarter. Edenbrook Capital LLC now owns 14,664,380 shares of the technology company's stock valued at $23,903,000 after buying an additional 102,475 shares during the period. Jane Street Group LLC bought a new stake in shares of Marchex in the 1st quarter worth about $30,000. Finally, Acuitas Investments LLC bought a new stake in shares of Marchex in the 2nd quarter worth about $141,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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