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

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

Marchex Trading Down 0.5 %

Shares of NASDAQ MCHX opened at $1.98 on Friday. The stock has a market capitalization of $86.49 million, a PE ratio of -22.00 and a beta of 1.92. Marchex has a 12-month low of $1.11 and a 12-month high of $2.40. The stock’s fifty day simple moving average is $1.96 and its two-hundred day simple moving average is $1.89.

Institutional Trading of Marchex

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC increased 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 acquiring an additional 7,598 shares in the last quarter. LPL Financial LLC purchased a new position in shares of Marchex in the fourth quarter worth $55,000. AMH Equity Ltd acquired a new stake in shares of Marchex during the fourth quarter worth $438,000. Finally, Geode Capital Management LLC lifted its stake in shares of Marchex by 9.1% during the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after buying an additional 29,042 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.