Several other equities analysts have also commented on MCHX. Zacks Investment Research upgraded Marchex from a hold rating to a buy rating and set a $3.50 price target on the stock in a research note on Thursday, November 9th. ValuEngine lowered Marchex from a hold rating to a sell rating in a research note on Thursday, November 9th.
Marchex (NASDAQ MCHX) traded down $0.22 during trading hours on Thursday, hitting $3.27. The stock had a trading volume of 280,509 shares, compared to its average volume of 81,952. Marchex has a fifty-two week low of $2.51 and a fifty-two week high of $3.67. The company has a market capitalization of $152.40, a P/E ratio of -12.11 and a beta of 1.32.
Marchex (NASDAQ:MCHX) last released its earnings results on Thursday, February 15th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Marchex had a negative return on equity of 7.76% and a negative net margin of 11.72%. The business had revenue of $21.85 million during the quarter, compared to the consensus estimate of $21.10 million. During the same period last year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. sell-side analysts predict that Marchex will post -0.13 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Thursday, March 8th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This is a positive change from Marchex’s previous special dividend of $0.14.
In other news, major shareholder Edenbrook Capital, Llc purchased 133,700 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $447,895.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.35% of the company’s stock.
Several institutional investors have recently made changes to their positions in MCHX. Wells Fargo & Company MN increased its stake in shares of Marchex by 219.1% during the fourth quarter. Wells Fargo & Company MN now owns 31,473 shares of the technology company’s stock valued at $101,000 after buying an additional 21,611 shares during the period. Parametric Portfolio Associates LLC grew its stake in Marchex by 19.2% in the second quarter. Parametric Portfolio Associates LLC now owns 34,889 shares of the technology company’s stock valued at $104,000 after purchasing an additional 5,629 shares during the last quarter. Monashee Investment Management LLC purchased a new position in Marchex in the fourth quarter valued at about $144,000. Stone Ridge Asset Management LLC purchased a new position in Marchex in the fourth quarter valued at about $144,000. Finally, Macquarie Group Ltd. purchased a new position in Marchex in the third quarter valued at about $202,000. Hedge funds and other institutional investors own 48.17% 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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