Marchex (NASDAQ:MCHX) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX - Free Report) in a research report report published on Friday. The firm issued a hold rating on the technology company's stock.

Marchex Stock Down 0.4 %

Shares of NASDAQ MCHX traded down $0.01 during midday trading on Friday, reaching $1.40. 453 shares of the stock were exchanged, compared to its average volume of 42,439. The firm has a 50-day simple moving average of $1.79 and a two-hundred day simple moving average of $1.85. The firm has a market cap of $60.98 million, a price-to-earnings ratio of -15.50 and a beta of 1.71. Marchex has a twelve month low of $1.20 and a twelve month high of $2.40.

Marchex (NASDAQ:MCHX - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $12.01 million. Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. Research analysts expect that Marchex will post -0.1 EPS for the current fiscal year.

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Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Marchex by 9.1% during 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 in the last quarter. AMH Equity Ltd purchased a new stake in shares of Marchex during the fourth quarter worth about $438,000. LPL Financial LLC acquired a new position in shares of Marchex in the fourth quarter valued at approximately $55,000. Millennium Management LLC lifted its stake in shares of Marchex by 55.5% during the fourth 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 period. Finally, Arcadia Wealth Management Inc. acquired a new stake in Marchex during the fourth quarter worth approximately $51,000. 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.