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

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

Marchex Stock Up 7.1 %

Shares of MCHX stock traded up $0.13 during trading on Wednesday, hitting $1.89. The company had a trading volume of 71,608 shares, compared to its average volume of 44,478. The stock's 50-day moving average is $1.79 and its two-hundred day moving average is $1.71. The stock has a market capitalization of $82.56 million, a price-to-earnings ratio of -21.00 and a beta of 1.91. Marchex has a 52 week low of $1.11 and a 52 week high of $2.16.

Hedge Funds Weigh In On Marchex

An institutional investor recently raised its position in Marchex stock. P.A.W. Capital Corp grew its stake in shares of Marchex, Inc. (NASDAQ:MCHX - Free Report) by 14.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the technology company's stock after acquiring an additional 51,000 shares during the quarter. Marchex comprises approximately 1.5% of P.A.W. Capital Corp's portfolio, making the stock its 13th biggest position. P.A.W. Capital Corp owned approximately 0.92% of Marchex worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 73.46% of the stock is owned by institutional investors and hedge funds.

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.