Marchex (NASDAQ:MCHX) Earns Hold Rating from Analysts at StockNews.com

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

Marchex Stock Down 0.6 %

NASDAQ:MCHX traded down $0.01 during mid-day trading on Wednesday, hitting $1.68. 98,488 shares of the stock traded hands, compared to its average volume of 43,674. The business's 50-day moving average price is $1.95 and its 200 day moving average price is $1.89. The company has a market cap of $73.44 million, a PE ratio of -18.66 and a beta of 1.87. Marchex has a 12-month low of $1.20 and a 12-month high of $2.40.

Marchex (NASDAQ:MCHX - Get Free Report) last released its quarterly 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). Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. The firm had revenue of $11.92 million for the quarter, compared to analysts' expectations of $12.01 million. Analysts anticipate that Marchex will post -0.1 earnings per share for the current fiscal year.

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Insider Transactions at Marchex

In related news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $1.75 per share, with a total value of $121,094.75. Following the acquisition, the insider now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Marchex

A number of large investors have recently added to or reduced their stakes in MCHX. Geode Capital Management LLC boosted its holdings in shares of 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 in the last quarter. AMH Equity Ltd purchased a new stake in Marchex in the fourth quarter worth approximately $438,000. Millennium Management LLC grew its position in 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 acquiring an additional 7,598 shares during the last quarter. Arcadia Wealth Management Inc. purchased a new position in shares of Marchex during the fourth quarter worth approximately $51,000. Finally, LPL Financial LLC bought a new stake in shares of Marchex in the 4th quarter worth approximately $55,000. 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.