Marchex (NASDAQ:MCHX) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX) in a report released on Saturday. The brokerage set a “hold” rating on the technology company’s stock.

Marchex Trading Down 3.6 %

NASDAQ:MCHX opened at $1.88 on Friday. The company has a 50-day moving average price of $1.85 and a 200-day moving average price of $1.78. The stock has a market cap of $82.12 million, a price-to-earnings ratio of -20.89 and a beta of 1.91. Marchex has a 12 month low of $1.11 and a 12 month high of $2.40.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Marchex stock. Geode Capital Management LLC lifted its position in shares of Marchex, Inc. (NASDAQ:MCHX) by 9.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 347,386 shares of the technology company’s stock after purchasing an additional 29,042 shares during the quarter. Geode Capital Management LLC owned about 0.80% of Marchex worth $650,000 as of its most recent filing with the Securities & Exchange Commission. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Marchex

Marchex, Inc, a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally. Its products include Marketing Edge that identifies which campaigns and channels are driving inbound conversations, evaluates what happens during those conversations, and closes the sales loop by connecting converted sales to marketing driven leads; Sonar Business Text Messaging, an artificial intelligence (AI) empowered intelligent workflow enabled mobile messaging solution that enables operations, sales, and marketing teams to communicate personally with field staff, prospects, and customers; Marchex Platform Services, a robust API-based conversation intelligence product that allows executives, sales, customer engagement, and marketing teams to apply Marchex AI to most any calls, regardless of communication platform, in order to identify actionable insights from conversations with their customers; Spotlight, an AI conversation analytics product for multi-location businesses; and Engage, a solution that provides locations with applications to enhance their overall performance.