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

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

Marchex Trading Down 0.7 %

MCHX traded down $0.01 during trading hours on Thursday, hitting $1.38. 29,059 shares of the company's stock were exchanged, compared to its average volume of 42,541. The firm has a market cap of $60.33 million, a P/E ratio of -15.33 and a beta of 1.71. Marchex has a 12-month low of $1.20 and a 12-month high of $2.40. The firm has a 50 day moving average of $1.89 and a 200 day moving average of $1.88.

Marchex (NASDAQ:MCHX - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $11.92 million for the quarter, compared to analysts' expectations of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. As a group, research analysts expect that Marchex will post -0.1 EPS for the current fiscal year.

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Insider Transactions at Marchex

In other news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average cost of $1.75 per share, with a total value of $121,094.75. Following the transaction, the insider now owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. This trade represents a 5.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 21.65% of the company's stock.

Hedge Funds Weigh In On Marchex

Large investors have recently bought and sold shares of the business. Arcadia Wealth Management Inc. acquired a new position in shares of Marchex during the 4th quarter worth about $51,000. Millennium Management LLC boosted its holdings in Marchex by 55.5% in the fourth 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Marchex by 3.5% in the fourth 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 in the last quarter. LPL Financial LLC purchased a new position in Marchex in the fourth quarter valued at approximately $55,000. Finally, AMH Equity Ltd acquired a new stake in Marchex during the fourth quarter worth approximately $438,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

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.