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

Investment analysts at StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHXGet Rating) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

Separately, TheStreet lowered Marchex from a “c-” rating to a “d+” rating in a research note on Thursday, February 24th.

Marchex stock opened at $1.28 on Wednesday. The stock’s 50 day moving average is $1.89 and its 200 day moving average is $2.17. The firm has a market cap of $54.16 million, a P/E ratio of -64.00 and a beta of 1.92. Marchex has a one year low of $1.24 and a one year high of $3.63.

Marchex (NASDAQ:MCHXGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $13.17 million for the quarter, compared to analyst estimates of $13.04 million. Marchex had a negative return on equity of 8.11% and a negative net margin of 1.19%. During the same period in the previous year, the firm earned ($0.10) earnings per share. As a group, analysts predict that Marchex will post -0.1 EPS for the current year.

Hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC increased its holdings in Marchex by 256.5% in the fourth quarter. First Eagle Investment Management LLC now owns 205,801 shares of the technology company’s stock worth $510,000 after purchasing an additional 148,078 shares in the last quarter. B. Riley Financial Inc. increased its holdings in Marchex by 24.2% in the fourth quarter. B. Riley Financial Inc. now owns 2,971,911 shares of the technology company’s stock worth $7,370,000 after purchasing an additional 579,732 shares in the last quarter. BlackRock Inc. increased its holdings in Marchex by 12.5% in the third quarter. BlackRock Inc. now owns 730,088 shares of the technology company’s stock worth $2,179,000 after purchasing an additional 80,993 shares in the last quarter. State Street Corp increased its holdings in Marchex by 7.8% in the first quarter. State Street Corp now owns 136,696 shares of the technology company’s stock worth $313,000 after purchasing an additional 9,881 shares in the last quarter. Finally, Edenbrook Capital LLC increased its holdings in shares of Marchex by 6.0% during the fourth quarter. Edenbrook Capital LLC now owns 14,524,634 shares of the technology company’s stock valued at $36,021,000 after acquiring an additional 821,126 shares in the last quarter. Institutional investors and hedge funds own 72.41% of the company’s stock.

About Marchex (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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