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

Equities researchers at StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued on Monday. The firm set a “hold” rating on the technology company’s stock.

Marchex Price Performance

Shares of MCHX stock opened at $2.00 on Monday. The firm has a market cap of $87.36 million, a price-to-earnings ratio of -22.22 and a beta of 1.87. The company’s 50 day moving average is $1.98 and its 200 day moving average is $1.89. Marchex has a 52-week low of $1.11 and a 52-week high of $2.40.

Marchex (NASDAQ:MCHX) last released its earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. The company 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 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MCHX. Geode Capital Management LLC boosted its stake in shares of Marchex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after acquiring an additional 29,042 shares in the last quarter. AMH Equity Ltd purchased a new position in Marchex during the fourth quarter worth approximately $438,000. Millennium Management LLC grew its holdings in shares of 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 during the period. Arcadia Wealth Management Inc. purchased a new stake in shares of Marchex in the 4th quarter valued at approximately $51,000. Finally, LPL Financial LLC purchased a new position in Marchex in the fourth 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.