Marchex, Inc. (MCHX) Cut to Hold at Zacks Investment Research
Marchex, Inc. (NASDAQ:MCHX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report 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 upgraded Marchex from a “sell” rating to a “hold” rating in a report on Friday, September 1st.
Marchex (NASDAQ:MCHX) opened at 3.25 on Wednesday. The stock’s market capitalization is $138.95 million. The company’s 50 day moving average is $3.05 and its 200-day moving average is $2.89. Marchex has a 1-year low of $2.46 and a 1-year high of $3.75.
Marchex (NASDAQ:MCHX) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. Marchex had a negative return on equity of 10.65% and a negative net margin of 15.53%. The firm had revenue of $22.02 million during the quarter, compared to analysts’ expectations of $21.97 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The business’s revenue for the quarter was down 36.0% on a year-over-year basis. Analysts forecast that Marchex will post ($0.05) earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its holdings in Marchex by 19.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 34,889 shares of the technology company’s stock valued at $104,000 after buying an additional 5,629 shares during the period. Bank of America Corp DE lifted its position in Marchex by 2.8% in the first quarter. Bank of America Corp DE now owns 48,573 shares of the technology company’s stock valued at $132,000 after buying an additional 1,331 shares during the last quarter. LMR Partners LLP acquired a new position in Marchex in the second quarter valued at about $312,000. Weiss Multi Strategy Advisers LLC lifted its position in Marchex by 104.2% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 130,000 shares of the technology company’s stock valued at $354,000 after buying an additional 66,352 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Marchex by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 174,205 shares of the technology company’s stock valued at $473,000 after buying an additional 5,241 shares during the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.
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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