Zacks Investment Research upgraded shares of Marchex (NASDAQ:MCHX) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $5.25 price objective on the technology company’s stock.

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. “

Several other research analysts have also commented on the company. ValuEngine lowered Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Northland Securities reissued a buy rating and issued a $100.00 price objective on shares of Fortinet in a research report on Friday, May 3rd. Four research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus target price of $6.42.

Shares of MCHX traded down $0.01 during trading hours on Wednesday, hitting $4.82. The stock had a trading volume of 93,400 shares, compared to its average volume of 229,980. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.50 and a current ratio of 3.50. The company has a market capitalization of $204.58 million, a price-to-earnings ratio of -80.33 and a beta of 1.47. The stock has a fifty day simple moving average of $4.58. Marchex has a 12-month low of $2.47 and a 12-month high of $5.57.

Marchex (NASDAQ:MCHX) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.01 earnings per share for the quarter. The business had revenue of $26.41 million for the quarter, compared to analyst estimates of $24.99 million. Marchex had a negative return on equity of 1.77% and a negative net margin of 3.40%. As a group, sell-side analysts expect that Marchex will post -0.05 EPS for the current year.

In related news, major shareholder Long Only Value Fund Edenbrook acquired 61,600 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $4.11 per share, with a total value of $253,176.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Edenbrook Capital, Llc acquired 15,608 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $4.39 per share, for a total transaction of $68,519.12. The disclosure for this purchase can be found here. Company insiders own 22.49% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MCHX. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Marchex during the first quarter worth about $55,000. Raymond James Trust N.A. increased its position in shares of Marchex by 72.4% during the first quarter. Raymond James Trust N.A. now owns 19,426 shares of the technology company’s stock worth $92,000 after acquiring an additional 8,160 shares during the last quarter. Baker Avenue Asset Management LP purchased a new stake in shares of Marchex during the fourth quarter worth about $59,000. Oppenheimer Asset Management Inc. increased its position in shares of Marchex by 44.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 26,235 shares of the technology company’s stock worth $124,000 after acquiring an additional 8,067 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Marchex during the first quarter worth about $150,000. 51.28% of the stock is currently owned by institutional investors.

About Marchex

Marchex, Inc operates as a call analytics company that helps businesses connect, drive, measure, and convert callers into customers. Its products include Marchex Call Analytics, an analytics platform for enterprises that depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Speech Analytics that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, which enable businesses to send and receive text/SMS messages with customers; Call Monitoring; Marchex Omnichannel Analytics Cloud products, such as Marchex Search Analytics, a product for search marketers that drive phone calls from search campaigns, as well as Marchex Display and Video Analytics, a product for marketers that buy digital display advertising; Marchex Site Analytics, a product for marketers that can drive phone calls from Websites; and Marchex Social Analytics, a product for marketers that buy social media advertising.

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