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

StockNews.com started coverage on shares of Marchex (NASDAQ:MCHX) in a research report report published on Tuesday morning. The brokerage issued a hold rating on the technology company’s stock.

Marchex Stock Performance

MCHX opened at $1.76 on Tuesday. The company has a 50-day moving average of $1.97 and a 200-day moving average of $1.89. The company has a market capitalization of $76.88 million, a P/E ratio of -19.55 and a beta of 1.87. Marchex has a 1-year low of $1.20 and a 1-year high of $2.40.

Marchex (NASDAQ:MCHX) last released its earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $12.01 million. As a group, sell-side analysts expect that Marchex will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marchex

Institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its position 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 valued at $37,000 after buying an additional 7,598 shares during the last quarter. Arcadia Wealth Management Inc. bought a new position in Marchex in the 4th quarter worth about $51,000. LPL Financial LLC bought a new position in Marchex in the 4th quarter worth about $55,000. AMH Equity Ltd bought a new position in Marchex in the 4th quarter worth about $438,000. Finally, Geode Capital Management LLC grew its position in Marchex by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after purchasing an additional 29,042 shares during the last quarter. 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.