StockNews.com Initiates Coverage on Marchex (NASDAQ:MCHX)

Stock analysts at StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a research report issued on Friday. The brokerage set a “hold” rating on the technology company’s stock.

Marchex Trading Up 0.5 %

Shares of MCHX stock opened at $1.99 on Friday. Marchex has a twelve month low of $1.11 and a twelve month high of $2.40. The business’s 50 day moving average is $1.84 and its two-hundred day moving average is $1.76. The company has a market capitalization of $86.93 million, a P/E ratio of -22.11 and a beta of 1.91.

Institutional Trading of Marchex

An institutional investor recently raised its position in Marchex stock. Geode Capital Management LLC boosted its position in Marchex, Inc. (NASDAQ:MCHX) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 347,386 shares of the technology company’s stock after purchasing an additional 29,042 shares during the period. Geode Capital Management LLC owned about 0.80% of Marchex worth $650,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 73.46% of the company’s stock.

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.