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

Investment analysts at StockNews.com started coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued on Friday. The firm set a “hold” rating on the technology company’s stock.

Marchex Trading Up 2.5 %

Shares of MCHX opened at $2.07 on Friday. Marchex has a twelve month low of $1.11 and a twelve month high of $2.40. The company has a market cap of $90.42 million, a P/E ratio of -23.00 and a beta of 1.92. The company’s fifty day simple moving average is $1.98 and its 200-day simple moving average is $1.88.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. LPL Financial LLC bought a new position in shares of Marchex in the fourth quarter worth about $55,000. AMH Equity Ltd bought a new position in shares of Marchex in the fourth quarter worth about $438,000. Finally, 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 worth $630,000 after purchasing an additional 12,255 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

About Marchex

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.