Zacks Investment Research Upgrades Marchex, Inc. (MCHX) to Hold

Marchex, Inc. (NASDAQ:MCHX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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, Roth Capital set a $3.00 target price on Marchex and gave the stock a “hold” rating in a research note on Saturday, February 18th.

Marchex (NASDAQ:MCHX) traded down 0.76% during midday trading on Thursday, hitting $2.62. 48,486 shares of the stock traded hands. The company’s market cap is $110.52 million. Marchex has a 52-week low of $2.46 and a 52-week high of $4.36. The firm’s 50-day moving average is $2.64 and its 200-day moving average is $2.66.

Marchex (NASDAQ:MCHX) last posted its earnings results on Thursday, February 16th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm earned $28.40 million during 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 revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. Analysts predict that Marchex will post ($0.18) EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC raised its position in Marchex by 21.8% in the fourth quarter. Boothbay Fund Management LLC now owns 58,287 shares of the technology company’s stock worth $154,000 after buying an additional 10,428 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Marchex during the fourth quarter worth about $220,000. Cpcm LLC bought a new position in Marchex during the fourth quarter worth about $411,000. Alambic Investment Management L.P. raised its position in Marchex by 7.5% in the third quarter. Alambic Investment Management L.P. now owns 194,018 shares of the technology company’s stock worth $537,000 after buying an additional 13,609 shares during the last quarter. Finally, State Street Corp raised its position in Marchex by 1.9% in the fourth quarter. State Street Corp now owns 514,679 shares of the technology company’s stock worth $1,363,000 after buying an additional 9,691 shares during the last quarter. 51.00% of the stock is currently owned by institutional investors and hedge funds.

About Marchex

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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