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

StockNews.com started coverage on shares of Marchex (NASDAQ:MCHX) in a research note published on Saturday morning. The brokerage issued a hold rating on the technology company’s stock.

Marchex Price Performance

Shares of MCHX opened at $1.99 on Friday. Marchex has a 1 year low of $1.11 and a 1 year high of $2.40. The company has a 50 day simple moving average of $1.97 and a two-hundred day simple moving average of $1.89. The firm has a market cap of $86.93 million, a P/E ratio of -22.11 and a beta of 1.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 shares of Marchex in the fourth quarter valued at $55,000. Finally, AMH Equity Ltd purchased a new position in shares of Marchex in the fourth quarter valued at $438,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.