Marchex (NASDAQ:MCHX) was downgraded by research analysts at TheStreet from a “c-” rating to a “d+” rating in a research report issued on Wednesday.
Separately, Zacks Investment Research lowered Marchex from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd.
Marchex (MCHX) opened at $2.92 on Wednesday. Marchex has a fifty-two week low of $2.55 and a fifty-two week high of $3.67. The firm has a market capitalization of $124.89, a price-to-earnings ratio of -19.47 and a beta of 1.33.
Marchex (NASDAQ:MCHX) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. Marchex had a negative return on equity of 4.71% and a negative net margin of 6.74%. The company had revenue of $21.85 million for the quarter, compared to analyst estimates of $21.10 million. During the same period last year, the company posted ($0.04) earnings per share. The firm’s revenue was down 23.1% compared to the same quarter last year. research analysts expect that Marchex will post -0.07 earnings per share for the current fiscal year.
In related news, major shareholder Edenbrook Capital, Llc acquired 80,773 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $3.23 per share, with a total value of $260,896.79. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 353,831 shares of company stock worth $1,138,437 over the last three months. 27.35% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in MCHX. Wells Fargo & Company MN raised its position in Marchex by 219.1% in the fourth quarter. Wells Fargo & Company MN now owns 31,473 shares of the technology company’s stock valued at $101,000 after purchasing an additional 21,611 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Marchex by 19.2% during the second quarter. Parametric Portfolio Associates LLC now owns 34,889 shares of the technology company’s stock worth $104,000 after acquiring an additional 5,629 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of Marchex during the fourth quarter worth about $144,000. Monashee Investment Management LLC purchased a new stake in shares of Marchex during the fourth quarter worth about $144,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Marchex during the third quarter worth about $202,000. 46.20% of the stock is currently owned by institutional investors.
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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