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

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

Marchex Stock Performance

Shares of NASDAQ:MCHX traded up $0.04 during trading on Monday, reaching $1.43. 3,122 shares of the stock traded hands, compared to its average volume of 41,397. The stock has a market cap of $62.51 million, a P/E ratio of -15.89 and a beta of 1.78. The stock has a 50-day moving average of $1.61 and a two-hundred day moving average of $1.80. Marchex has a 52-week low of $1.24 and a 52-week high of $2.40.

Marchex (NASDAQ:MCHX - Get Free Report) last posted its earnings results 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 business had revenue of $11.92 million during the quarter, compared to the consensus estimate of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. Sell-side analysts expect that Marchex will post -0.1 earnings per share for the current year.

Insider Activity

In other news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were acquired at an average cost of $1.75 per share, with a total value of $121,094.75. Following the completion of the transaction, the insider now owns 1,391,535 shares of the company's stock, valued at approximately $2,435,186.25. This trade represents a 5.23 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marchex

A number of institutional investors and hedge funds have recently made changes to their positions in MCHX. Millennium Management LLC boosted its stake in shares of Marchex by 55.5% during the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company's stock worth $37,000 after acquiring an additional 7,598 shares during the last quarter. Arcadia Wealth Management Inc. bought a new stake in Marchex during the fourth quarter valued at about $51,000. LPL Financial LLC purchased a new stake in Marchex in the fourth quarter worth about $55,000. AMH Equity Ltd bought a new position in shares of Marchex in the fourth quarter worth about $438,000. Finally, Geode Capital Management LLC lifted its position in shares of Marchex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company's stock valued at $650,000 after buying an additional 29,042 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company's 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.