Marchex (MCHX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Marchex (NASDAQ:MCHX) from a buy rating to a hold rating in a research report report published 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 downgraded Marchex from a hold rating to a sell rating in a research note on Thursday, November 9th.

Shares of Marchex (NASDAQ:MCHX) traded down $0.02 on Wednesday, hitting $3.42. The stock had a trading volume of 38,900 shares, compared to its average volume of 47,100. The firm has a market cap of $150.22, a P/E ratio of -12.67 and a beta of 1.19. Marchex has a 12 month low of $2.50 and a 12 month high of $3.75.

The business also recently declared a special dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Thursday, March 8th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, March 7th. This is an increase from Marchex’s previous special dividend of $0.14.

In other Marchex news, major shareholder Prescott Group Capital Managem sold 1,100,000 shares of Marchex stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $3.10, for a total transaction of $3,410,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 27.35% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Marchex by 607.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 212,479 shares of the technology company’s stock worth $633,000 after buying an additional 182,452 shares during the last quarter. Roumell Asset Management LLC raised its holdings in shares of Marchex by 20.5% in the 3rd quarter. Roumell Asset Management LLC now owns 1,439,270 shares of the technology company’s stock worth $4,447,000 after purchasing an additional 245,220 shares during the period. Heartland Advisors Inc. raised its holdings in shares of Marchex by 12.6% in the 3rd quarter. Heartland Advisors Inc. now owns 500,000 shares of the technology company’s stock worth $1,545,000 after purchasing an additional 56,118 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 worth $3,903,000 after purchasing an additional 101,478 shares during the period. Finally, Vanguard Group Inc. raised its holdings 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 worth $4,608,000 after purchasing an additional 13,320 shares during the period. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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Marchex Company Profile

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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