Marchex (NASDAQ:MCHX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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, TheStreet cut Marchex from a “c-” rating to a “d+” rating in a research note on Wednesday, March 14th.
Marchex opened at $2.66 on Wednesday, according to Marketbeat.com. Marchex has a 52 week low of $2.68 and a 52 week high of $2.69.
Marchex (NASDAQ:MCHX) last released its quarterly earnings results on Thursday, May 3rd. The technology company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Marchex had a negative return on equity of 3.54% and a negative net margin of 3.99%. The firm had revenue of $21.90 million for the quarter, compared to analysts’ expectations of $21.10 million. research analysts anticipate that Marchex will post -0.09 earnings per share for the current fiscal year.
In related news, major shareholder Edenbrook Capital, Llc acquired 16,500 shares of Marchex stock in a transaction dated Monday, March 26th. The shares were acquired at an average cost of $2.64 per share, for a total transaction of $43,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 343,457 shares of company stock worth $1,016,553. Insiders own 27.35% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MCHX. Unterberg Capital LLC acquired a new stake in shares of Marchex in the first quarter valued at $1,365,000. Kennedy Capital Management Inc. raised its stake in shares of Marchex by 67.0% in the fourth quarter. Kennedy Capital Management Inc. now owns 1,129,581 shares of the technology company’s stock valued at $3,649,000 after acquiring an additional 453,115 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Marchex by 13.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,689,796 shares of the technology company’s stock valued at $5,458,000 after acquiring an additional 198,852 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Marchex by 11.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,458,252 shares of the technology company’s stock valued at $4,506,000 after acquiring an additional 148,643 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in shares of Marchex by 16.6% in the first quarter. Ancora Advisors LLC now owns 955,253 shares of the technology company’s stock valued at $2,608,000 after acquiring an additional 136,272 shares in the last quarter. Institutional investors and hedge funds own 46.85% of the company’s stock.
Marchex Company Profile
Marchex, Inc operates as a call analytics company. Its products include Marchex Call Analytics, an analytics technology platform that provides data and insights to measure the performance of mobile, online, and offline advertising for advertisers and small business resellers; and Marchex Speech Analytics delivers actionable operational and advertising insights of inbound calls from consumer's interactions.
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