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

StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHXGet Rating) in a report issued on Thursday. The firm set a “hold” rating on the technology company’s stock.

Several other equities analysts have also recently commented on MCHX. TheStreet cut shares of Marchex from a “c-” rating to a “d+” rating in a report on Thursday, February 24th. Zacks Investment Research cut shares of Marchex from a “buy” rating to a “hold” rating in a report on Wednesday.

NASDAQ MCHX opened at $1.86 on Thursday. The firm’s 50 day moving average price is $2.10 and its two-hundred day moving average price is $2.45. Marchex has a twelve month low of $1.66 and a twelve month high of $3.63. The stock has a market cap of $78.62 million, a price-to-earnings ratio of -18.60 and a beta of 1.93.

Marchex (NASDAQ:MCHXGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. Marchex had a negative net margin of 8.21% and a negative return on equity of 14.00%. The business had revenue of $12.79 million for the quarter, compared to analysts’ expectations of $12.24 million. During the same period in the previous year, the company posted ($0.08) EPS. On average, equities research analysts expect that Marchex will post -0.13 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in MCHX. Millennium Management LLC lifted its stake in shares of Marchex by 41.4% in the 3rd quarter. Millennium Management LLC now owns 33,816 shares of the technology company’s stock valued at $101,000 after purchasing an additional 9,898 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Marchex by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 200,869 shares of the technology company’s stock worth $498,000 after acquiring an additional 4,934 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Marchex by 256.5% during the 4th quarter. First Eagle Investment Management LLC now owns 205,801 shares of the technology company’s stock worth $510,000 after acquiring an additional 148,078 shares during the last quarter. Geode Capital Management LLC lifted its position in Marchex by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 269,674 shares of the technology company’s stock worth $668,000 after acquiring an additional 6,921 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Marchex by 12.5% during the 3rd quarter. BlackRock Inc. now owns 730,088 shares of the technology company’s stock worth $2,179,000 after acquiring an additional 80,993 shares during the last quarter. 72.41% of the stock is owned by institutional investors and hedge funds.

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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