Marchex, Inc. (MCHX) Announces Quarterly Earnings Results
Marchex, Inc. (NASDAQ:MCHX) posted its quarterly earnings results on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $28.40 million for the quarter, compared to analysts’ expectations of $26 million. Marchex had a negative return on equity of 8.43% and a negative net margin of 56.65%. The firm’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share.
Marchex (NASDAQ:MCHX) opened at 3.07 on Friday. The firm’s market cap is $128.55 million. Marchex has a 1-year low of $2.46 and a 1-year high of $4.68. The firm has a 50-day moving average price of $2.72 and a 200 day moving average price of $2.74.
In related news, major shareholder Prescott Group Capital Managem acquired 249,386 shares of the company’s stock in a transaction on Wednesday, November 30th. The stock was purchased at an average cost of $2.57 per share, with a total value of $640,922.02. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 31.25% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in MCHX. Boothbay Fund Management LLC boosted its position in shares of Marchex by 21.8% in the fourth quarter. Boothbay Fund Management LLC now owns 58,287 shares of the company’s stock valued at $154,000 after buying an additional 10,428 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Marchex during the fourth quarter worth approximately $220,000. California State Teachers Retirement System boosted its position in Marchex by 1.6% in the second quarter. California State Teachers Retirement System now owns 70,117 shares of the company’s stock worth $223,000 after buying an additional 1,100 shares during the period. Emerald Acquisition Ltd. acquired a new position in Marchex during the second quarter worth approximately $283,000. Finally, Cpcm LLC acquired a new position in Marchex during the fourth quarter worth approximately $411,000. 51.00% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded Marchex from a “sell” rating to a “hold” rating in a report on Wednesday, January 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $5.58.
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Marchex Company Profile
Marchex, Inc is an advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. The Company’s media analytics products connect call data to media channels, including search and display – down to the campaign, keyword and impression.
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