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

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

Marchex Price Performance

Shares of NASDAQ:MCHX traded up $0.05 during midday trading on Friday, hitting $2.07. 127,728 shares of the company's stock were exchanged, compared to its average volume of 25,034. The stock has a 50 day moving average price of $1.98 and a 200-day moving average price of $1.89. The company has a market cap of $90.42 million, a PE ratio of -23.00 and a beta of 1.92. Marchex has a 12 month low of $1.11 and a 12 month high of $2.40.

Institutional Investors Weigh In On Marchex

A number of institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in Marchex by 55.5% in the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company's stock worth $37,000 after purchasing an additional 7,598 shares in the last quarter. Geode Capital Management LLC grew its position in Marchex by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock worth $630,000 after purchasing an additional 12,255 shares in the last quarter. LPL Financial LLC bought a new stake in Marchex in the 4th quarter worth about $55,000. Finally, AMH Equity Ltd bought a new stake in Marchex in the 4th quarter worth about $438,000. 73.46% of the stock is 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.