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

StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHXGet Rating) in a research report report published on Saturday. The brokerage issued a hold rating on the technology company’s stock.

A number of other research analysts have also weighed in on MCHX. TheStreet lowered shares of Marchex from a c- rating to a d+ rating in a research report on Thursday, February 24th. Zacks Investment Research downgraded Marchex from a buy rating to a hold rating in a research note on Wednesday, May 4th.

MCHX stock opened at $2.08 on Friday. The business has a 50-day simple moving average of $2.10 and a two-hundred day simple moving average of $2.32. The company has a market capitalization of $87.92 million, a P/E ratio of -104.00 and a beta of 1.93. Marchex has a 52-week low of $1.65 and a 52-week high of $3.63.

Marchex (NASDAQ:MCHXGet Rating) last announced its earnings results on Thursday, May 12th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $13.17 million for the quarter, compared to analysts’ expectations of $13.04 million. Marchex had a negative return on equity of 8.11% and a negative net margin of 1.19%. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Equities research analysts expect that Marchex will post -0.13 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Marchex by 12.5% during the 3rd quarter. BlackRock Inc. now owns 730,088 shares of the technology company’s stock valued at $2,179,000 after acquiring an additional 80,993 shares during the period. Dimensional Fund Advisors LP increased its position in Marchex by 17.6% in the third quarter. Dimensional Fund Advisors LP now owns 195,935 shares of the technology company’s stock worth $585,000 after buying an additional 29,288 shares during the last quarter. Millennium Management LLC raised its stake in shares of Marchex by 41.4% in the third quarter. Millennium Management LLC now owns 33,816 shares of the technology company’s stock valued at $101,000 after buying an additional 9,898 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Marchex by 256.5% during the 4th quarter. First Eagle Investment Management LLC now owns 205,801 shares of the technology company’s stock valued at $510,000 after buying an additional 148,078 shares during the last quarter. Finally, B. Riley Financial Inc. grew its stake in shares of Marchex by 24.2% during the 4th quarter. B. Riley Financial Inc. now owns 2,971,911 shares of the technology company’s stock worth $7,370,000 after acquiring an additional 579,732 shares during the period. Institutional investors and hedge funds own 72.41% of the company’s stock.

Marchex Company Profile (Get Rating)

Marchex, Inc operates as an analytics and solutions company that helps businesses connect, drive, measure, and convert callers into customers in the United States and Canada. Its products include Marchex Call Analytics, an analytics platform for enterprises, which depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Call Analytics, Conversation Edition that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, a solution for intelligent mobile messaging, which enables sales, marketing, and operations teams in businesses to engage in two-way communications with field staff, prospects, and customers through text/SMS messages; Call Monitoring for call recording; and Marchex Marketing Edge, an analytics solution for marketers in enterprise, mid-sized and small businesses that depend on inbound phone calls to drive sales, appointments and reservations.

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