Marchex (NASDAQ:MCHX) Announces Quarterly Earnings Results

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. The company had revenue of $11.66 million for the quarter, compared to the consensus estimate of $12.44 million. Marchex had a negative return on equity of 12.76% and a negative net margin of 9.76%.

Marchex Price Performance

Shares of NASDAQ:MCHX traded up $0.13 during trading on Friday, reaching $1.94. 122,577 shares of the company's stock traded hands, compared to its average volume of 50,330. Marchex has a 12 month low of $1.26 and a 12 month high of $2.40. The company has a 50 day moving average of $2.02 and a 200-day moving average of $1.82. The stock has a market capitalization of $84.80 million, a P/E ratio of -17.64 and a beta of 1.92.

Institutional Investors Weigh In On Marchex

A number of institutional investors have recently modified their holdings of MCHX. Kanen Wealth Management LLC bought a new stake in shares of Marchex during the 1st quarter valued at about $813,000. Jane Street Group LLC bought a new stake in shares of Marchex during the 1st quarter valued at about $30,000. Finally, Manatuck Hill Partners LLC bought a new stake in shares of Marchex during the 2nd quarter valued at about $88,000. Institutional investors own 73.46% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on Marchex in a research report on Wednesday, May 21st. They issued a "hold" rating for the company.

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.