Zacks Investment Research Downgrades Marchex (NASDAQ:MCHX) to Hold

Zacks Investment Research downgraded shares of Marchex (NASDAQ:MCHX) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

Other research analysts have also issued research reports about the stock. ValuEngine lowered shares of Marchex from a buy rating to a hold rating in a report on Tuesday, August 6th. Northland Securities restated a buy rating and issued a $7.00 price target on shares of Marchex in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Marchex currently has a consensus rating of Buy and a consensus price target of $6.17.

NASDAQ MCHX opened at $3.45 on Wednesday. Marchex has a one year low of $2.47 and a one year high of $5.57. The company’s 50 day moving average price is $4.33 and its 200 day moving average price is $4.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.50 and a current ratio of 3.69. The firm has a market capitalization of $151.83 million, a price-to-earnings ratio of -57.50 and a beta of 1.44.

In other news, major shareholder Edenbrook Capital, Llc acquired 100,000 shares of the stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $3.75 per share, with a total value of $375,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Long Only Value Fund Edenbrook acquired 16,803 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $3.27 per share, with a total value of $54,945.81. The disclosure for this purchase can be found here. Insiders purchased 251,311 shares of company stock worth $987,987 in the last 90 days. 22.49% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new stake in Marchex in the second quarter valued at approximately $45,000. Thompson Siegel & Walmsley LLC acquired a new stake in Marchex in the first quarter valued at approximately $55,000. AMP Capital Investors Ltd acquired a new stake in Marchex in the second quarter valued at approximately $62,000. Raymond James Trust N.A. grew its position in Marchex by 72.4% in the first quarter. Raymond James Trust N.A. now owns 19,426 shares of the technology company’s stock valued at $92,000 after acquiring an additional 8,160 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Marchex in the second quarter valued at approximately $92,000. 49.80% of the stock is owned by institutional investors.

Marchex Company Profile

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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