TheStreet lowered shares of Marchex (NASDAQ:MCHX) from a c- rating to a d+ rating in a report published on Wednesday, March 14th.
Separately, Zacks Investment Research lowered shares of Marchex from a buy rating to a hold rating in a report on Wednesday, January 3rd.
Shares of NASDAQ:MCHX traded down $0.01 during trading on Wednesday, reaching $2.63. The stock had a trading volume of 46,846 shares, compared to its average volume of 121,816. Marchex has a 52 week low of $2.57 and a 52 week high of $3.67. The stock has a market capitalization of $115.25, a P/E ratio of -18.79 and a beta of 1.25.
Marchex (NASDAQ:MCHX) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Marchex had a negative net margin of 6.74% and a negative return on equity of 4.95%. The business had revenue of $21.85 million during the quarter, compared to analyst estimates of $21.10 million. During the same quarter last year, the business posted ($0.04) earnings per share. Marchex’s revenue for the quarter was down 23.1% compared to the same quarter last year. analysts anticipate that Marchex will post -0.07 earnings per share for the current fiscal year.
In other Marchex news, major shareholder Edenbrook Capital, Llc purchased 80,773 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $3.23 per share, with a total value of $260,896.79. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired a total of 413,345 shares of company stock worth $1,295,984 over the last three months. Insiders own 27.35% of the company’s stock.
Several hedge funds have recently modified their holdings of MCHX. Parametric Portfolio Associates LLC grew its stake in Marchex by 19.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 34,889 shares of the technology company’s stock valued at $104,000 after buying an additional 5,629 shares during the last quarter. Vanguard Group Inc. grew its stake in Marchex by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,546,571 shares of the technology company’s stock valued at $4,608,000 after buying an additional 13,320 shares during the last quarter. Macquarie Group Ltd. grew its stake in Marchex by 26.7% in the 4th quarter. Macquarie Group Ltd. now owns 82,980 shares of the technology company’s stock valued at $268,000 after buying an additional 17,486 shares during the last quarter. Wells Fargo & Company MN grew its stake in Marchex by 219.1% in the 4th 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 last quarter. Finally, Alambic Investment Management L.P. grew its stake in Marchex by 18.6% in the 4th quarter. Alambic Investment Management L.P. now owns 197,968 shares of the technology company’s stock valued at $639,000 after buying an additional 31,107 shares during the last quarter. 46.32% of the stock is currently owned by institutional investors.
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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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