Marchex (NASDAQ:MCHX) Coverage Initiated at StockNews.com
StockNews.com has initiated coverage on Marchex (NASDAQ:MCHX), assigning a "hold" rating. The stock opened at $1.33, with a 52-week range of $1.20 to $2.40. Marchex reported a loss of $0.04 EPS for the last quarter, missing estimates. Major shareholder Edenbrook Capital increased its stake by purchasing 69,197 shares. Institutional investors hold 73.46% of the stock. Marchex specializes in conversation intelligence and analytics solutions.
Investment analysts at StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX - Get Free Report) in a report released on Friday. The firm set a "hold" rating on the technology company's stock.
Marchex Stock Performance
MCHX stock opened at $1.33 on Friday. The firm's fifty day moving average is $1.83 and its 200 day moving average is $1.86. Marchex has a 52 week low of $1.20 and a 52 week high of $2.40. The firm has a market cap of $58.14 million, a P/E ratio of -14.78 and a beta of 1.71.
Marchex (NASDAQ:MCHX - Get Free Report) last issued its earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) 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 firm had revenue of $11.92 million during the quarter, compared to the consensus estimate of $12.01 million. As a group, analysts forecast that Marchex will post -0.1 EPS for the current year.
Insider Transactions at Marchex
In other Marchex news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of Marchex stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average cost of $1.75 per share, with a total value of $121,094.75. Following the completion of the purchase, the insider now owns 1,391,535 shares of the company's stock, valued at approximately $2,435,186.25. This represents a 5.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.65% of the stock is currently owned by company insiders.
Institutional Trading of Marchex
Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted 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 worth $630,000 after buying an additional 12,255 shares during the period. AMH Equity Ltd bought a new stake in Marchex during the fourth quarter worth about $438,000. LPL Financial LLC purchased a new stake in Marchex in the fourth quarter worth about $55,000. Arcadia Wealth Management Inc. bought a new position in shares of Marchex during the fourth quarter valued at approximately $51,000. Finally, Millennium Management LLC lifted its holdings in shares of Marchex by 55.5% during 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 last quarter. Institutional investors own 73.46% of the company's stock.
Marchex Company Profile
(Get Free Report)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.
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