Zacks Investment Research downgraded shares of Marchex (NASDAQ:MCHX) from a buy rating to a hold rating in a report issued on Friday.
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, TheStreet upgraded shares of Marchex from a d+ rating to a c- rating in a research note on Thursday, February 15th.
Marchex (NASDAQ:MCHX) last announced its quarterly earnings results on Thursday, February 15th. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $21.85 million for the quarter, compared to analysts’ expectations of $21.10 million. Marchex had a negative net margin of 6.74% and a negative return on equity of 4.95%. Marchex’s revenue was down 23.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. research analysts forecast that Marchex will post -0.07 EPS for the current year.
In other Marchex news, major shareholder Edenbrook Capital, Llc purchased 80,773 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $3.23 per share, for a total transaction of $260,896.79. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased a total of 413,345 shares of company stock worth $1,295,984 over the last 90 days. 27.35% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its stake in Marchex by 219.1% in the 4th quarter. Wells Fargo & Company MN now owns 31,473 shares of the technology company’s stock worth $101,000 after purchasing an additional 21,611 shares in the last quarter. Monashee Investment Management LLC purchased a new stake in Marchex in the 4th quarter worth approximately $144,000. Stone Ridge Asset Management LLC purchased a new stake in Marchex in the 4th quarter worth approximately $144,000. Macquarie Group Ltd. purchased a new stake in Marchex in the 3rd quarter worth approximately $202,000. Finally, Deutsche Bank AG lifted its stake in Marchex by 30.3% in the 4th quarter. Deutsche Bank AG now owns 174,190 shares of the technology company’s stock worth $562,000 after purchasing an additional 40,462 shares in the last quarter. Institutional investors and hedge funds own 46.32% of the company’s stock.
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Marchex, Inc operates as a call analytics company. Its products include Marchex Call Analytics, an analytics technology platform that provides data and insights to measure the performance of mobile, online, and offline advertising for advertisers and small business resellers; and Marchex Speech Analytics delivers actionable operational and advertising insights of inbound calls from consumer's interactions.
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