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

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

Marchex Stock Performance

Shares of MCHX opened at $1.41 on Wednesday. The stock has a 50 day moving average price of $1.84 and a 200 day moving average price of $1.90. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $61.12 million, a price-to-earnings ratio of -4.86 and a beta of 2.06. Marchex has a 52-week low of $1.34 and a 52-week high of $2.21.

Marchex (NASDAQ:MCHX) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $12.52 million during the quarter, compared to the consensus estimate of $12.46 million. Marchex had a negative return on equity of 22.30% and a negative net margin of 24.59%. Research analysts predict that Marchex will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Marchex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCHX. State Street Corp lifted its stake in Marchex by 7.8% in the first quarter. State Street Corp now owns 136,696 shares of the technology company’s stock valued at $313,000 after buying an additional 9,881 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Marchex by 8.7% in the third quarter. Dimensional Fund Advisors LP now owns 202,219 shares of the technology company’s stock valued at $339,000 after buying an additional 16,111 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Marchex in the first quarter valued at approximately $25,000. Northern Trust Corp lifted its stake in Marchex by 10.6% in the second quarter. Northern Trust Corp now owns 81,757 shares of the technology company’s stock valued at $173,000 after buying an additional 7,830 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Marchex by 11.4% in the second quarter. Geode Capital Management LLC now owns 302,440 shares of the technology company’s stock valued at $641,000 after buying an additional 30,972 shares during the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

About Marchex

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 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.