Marchex (NASDAQ:MCHX) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Marchex (NASDAQ:MCHX) reported a quarterly earnings per share (EPS) of $0.01, exceeding analysts' expectations by $0.02.
• The company's shares increased by 3.0% during trading, reaching $2.03, with a 52-week trading range between $1.26 and $2.40.
• Approximately 73.46% of Marchex's stock is owned by hedge funds and institutional investors, indicating strong institutional support.

Marchex (NASDAQ:MCHX - Get Free Report) released its earnings results on Tuesday. The technology company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02, Zacks reports. Marchex had a negative return on equity of 16.52% and a negative net margin of 11.43%.

Marchex Trading Up 3.0%

Shares of MCHX stock traded up $0.06 during mid-day trading on Tuesday, hitting $2.03. 16,066 shares of the stock were exchanged, compared to its average volume of 20,246. Marchex has a 52-week low of $1.26 and a 52-week high of $2.40. The firm has a fifty day moving average of $2.03 and a 200 day moving average of $1.82.

Hedge Funds Weigh In On Marchex

A hedge fund recently bought a new stake in Marchex stock. Jane Street Group LLC purchased a new stake in Marchex, Inc. (NASDAQ:MCHX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,657 shares of the technology company's stock, valued at approximately $30,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of Marchex in a research note on Wednesday, May 21st. They set a "hold" rating on the 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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