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

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

Marchex Trading Up 5.8%

MCHX opened at $1.47 on Tuesday. The stock has a market cap of $64.26 million, a price-to-earnings ratio of -16.33 and a beta of 1.78. Marchex has a 1 year low of $1.24 and a 1 year high of $2.40. The stock has a fifty day moving average price of $1.59 and a 200 day moving average price of $1.80.

Marchex (NASDAQ:MCHX - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. The company had revenue of $11.92 million during the quarter, compared to analyst estimates of $12.01 million. As a group, sell-side analysts forecast that Marchex will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the purchase, the insider now directly owns 1,391,535 shares of the company's stock, valued at approximately $2,435,186.25. The trade was a 5.23% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Marchex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kanen Wealth Management LLC acquired a new position in shares of Marchex in the 1st quarter worth approximately $813,000. Arcadia Wealth Management Inc. bought a new position in Marchex in the 4th quarter valued at $51,000. Millennium Management LLC lifted its stake in shares of Marchex by 55.5% in the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company's stock valued at $37,000 after purchasing an additional 7,598 shares during the period. Geode Capital Management LLC lifted its stake in shares of Marchex by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock valued at $630,000 after purchasing an additional 12,255 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of Marchex in the 4th quarter valued at $55,000. 73.46% of the stock is currently owned by 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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