Marchex (MCHX) Rating Lowered to Hold at Zacks Investment Research

Marchex (NASDAQ:MCHX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, January 3rd.

According to Zacks, “Marchex is a leading mobile and online advertising company that drives millions of consumers to connect with businesses over the phone, delivers the most quality phone calls in the industry, and provides in-depth analysis of those phone calls. Through their robust platform, they offer three critical components for businesses looking to acquire new customers through phone calls. Marchex Call Analytics offers ad campaign measurement and intelligence and their Digital Call Marketplace and Local Leads solutions are designed for advertisers focused on new customer acquisition. The Marchex platform drives, measures and monetizes millions of mobile and online connections through the phone to advertisers each month. Their Digital Call Marketplace combines exclusive and preferred relationships with leading mobile carriers and mobile application developers, such as AT&T, Verizon, and Sprint, with the analytics technology to constantly measure and optimize ad campaign results. “

Separately, ValuEngine cut shares of Marchex from a “hold” rating to a “sell” rating in a report on Thursday, November 9th.

Shares of Marchex (NASDAQ MCHX) traded down $0.01 on Wednesday, hitting $3.37. 47,200 shares of the company’s stock traded hands, compared to its average volume of 47,563. Marchex has a one year low of $2.50 and a one year high of $3.75. The firm has a market capitalization of $144.98, a PE ratio of -12.48 and a beta of 1.19.

In related news, major shareholder Prescott Group Capital Managem sold 1,100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $3.10, for a total transaction of $3,410,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.35% of the company’s stock.

Several hedge funds have recently bought and sold shares of MCHX. Roumell Asset Management LLC boosted its stake in shares of Marchex by 20.5% during the third quarter. Roumell Asset Management LLC now owns 1,439,270 shares of the technology company’s stock valued at $4,447,000 after purchasing an additional 245,220 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Marchex by 11.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,458,252 shares of the technology company’s stock worth $4,506,000 after acquiring an additional 148,643 shares during the last quarter. Macquarie Group Ltd. bought a new position in Marchex in the 3rd quarter worth about $202,000. Heartland Advisors Inc. increased its stake in Marchex by 12.6% in the 3rd quarter. Heartland Advisors Inc. now owns 500,000 shares of the technology company’s stock worth $1,545,000 after acquiring an additional 56,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Marchex by 607.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 212,479 shares of the technology company’s stock worth $633,000 after acquiring an additional 182,452 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

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Marchex Company Profile

Marchex, Inc is a mobile advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. Its media analytics products can provide actionable intelligence on media channels advertisers use to acquire customers over the phone. Its Marchex Omnichannel Analytics Cloud helps marketers connect customer conversions driven from paid media channels, including search, display and video, social and sites, to phone calls made to a business.

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