Marchex, Inc. (MCHX) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of Marchex, Inc. (NASDAQ:MCHX) from a buy rating to a hold rating in a research note released 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, ValuEngine raised Marchex from a sell rating to a hold rating in a research note on Friday, September 1st.
Shares of Marchex (MCHX) remained flat at $3.20 on Wednesday. 55,951 shares of the company’s stock traded hands. The stock’s market cap is $136.81 million. The company has a 50 day moving average of $3.06 and a 200 day moving average of $2.89. Marchex has a 12-month low of $2.46 and a 12-month high of $3.75.
Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $22.02 million for the quarter, compared to the consensus estimate of $21.97 million. Marchex had a negative return on equity of 10.65% and a negative net margin of 15.53%. The firm’s revenue was down 36.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. On average, analysts predict that Marchex will post ($0.05) EPS for the current year.
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Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 13,320 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Marchex by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,309,609 shares of the technology company’s stock valued at $3,903,000 after purchasing an additional 101,478 shares during the period. Renaissance Technologies LLC raised its stake in shares of Marchex by 7.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,267,242 shares of the technology company’s stock valued at $3,447,000 after purchasing an additional 86,841 shares during the period. Kennedy Capital Management Inc. raised its stake in shares of Marchex by 3.3% in the 2nd quarter. Kennedy Capital Management Inc. now owns 573,006 shares of the technology company’s stock valued at $1,708,000 after purchasing an additional 18,092 shares during the period. Finally, Heartland Advisors Inc. acquired a new stake in shares of Marchex in the 2nd quarter valued at about $1,323,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.
Marchex, Inc is a mobile advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. Its media analytics products can provide actionable intelligence on media channels advertisers use to acquire customers over the phone. Its Marchex Omnichannel Analytics Cloud helps marketers connect customer conversions driven from paid media channels, including search, display and video, social and sites, to phone calls made to a business.
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