StockNews.com Begins Coverage on Marchex (NASDAQ:MCHX)

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

Marchex Stock Performance

Marchex stock opened at $1.49 on Monday. The stock has a market cap of $65.13 million, a PE ratio of -16.55 and a beta of 1.71. The stock has a 50-day moving average of $1.65 and a two-hundred day moving average of $1.81. Marchex has a one year low of $1.23 and a one year 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 the consensus estimate of ($0.02) by ($0.02). The company had revenue of $11.92 million during the quarter, compared to analysts' expectations of $12.01 million. Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. As a group, sell-side analysts predict that Marchex will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Marchex news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the acquisition, the insider now owns 1,391,535 shares in the company, valued at $2,435,186.25. This represents a 5.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.65% of the stock is currently owned by company insiders.

Institutional Trading of Marchex

Large investors have recently made changes to their positions in the business. Kanen Wealth Management LLC acquired a new position in Marchex during the first quarter valued at $813,000. Arcadia Wealth Management Inc. acquired a new position in shares of Marchex in the 4th quarter valued at about $51,000. Millennium Management LLC boosted 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. Geode Capital Management LLC grew its holdings in Marchex by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock worth $630,000 after acquiring an additional 12,255 shares during the period. Finally, LPL Financial LLC purchased a new position in Marchex during the fourth quarter valued at approximately $55,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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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