Marchex (NASDAQ:MCHX) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Marchex (NASDAQ:MCHX) from a buy rating to a hold rating in a research report released on Saturday, 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. “

MCHX has been the subject of several other reports. ValuEngine lowered Marchex from a strong-buy rating to a buy rating in a research report on Monday, June 3rd. Northland Securities reiterated a buy rating and issued a $7.00 price objective on shares of Marchex in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $6.42.

Shares of MCHX opened at $3.97 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.50 and a quick ratio of 3.50. The company has a 50 day simple moving average of $4.52. Marchex has a 52-week low of $2.47 and a 52-week high of $5.57. The firm has a market cap of $177.89 million, a price-to-earnings ratio of -66.17 and a beta of 1.45.

In other news, major shareholder Long Only Value Fund Edenbrook bought 61,600 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average price of $4.11 per share, for a total transaction of $253,176.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Edenbrook Capital, Llc bought 30,200 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was purchased at an average price of $4.17 per share, for a total transaction of $125,934.00. The disclosure for this purchase can be found here. Insiders acquired a total of 108,908 shares of company stock worth $454,004 in the last 90 days. Company insiders own 22.49% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. lifted its stake in Marchex by 44.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 26,235 shares of the technology company’s stock valued at $124,000 after acquiring an additional 8,067 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Marchex by 72.4% during the 1st quarter. Raymond James Trust N.A. now owns 19,426 shares of the technology company’s stock worth $92,000 after purchasing an additional 8,160 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Marchex during the 1st quarter worth approximately $55,000. Kennedy Capital Management Inc. raised its stake in shares of Marchex by 1.0% during the 1st quarter. Kennedy Capital Management Inc. now owns 1,271,908 shares of the technology company’s stock worth $6,016,000 after purchasing an additional 12,565 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Marchex by 12.1% during the 1st quarter. Synovus Financial Corp now owns 185,298 shares of the technology company’s stock worth $880,000 after purchasing an additional 20,055 shares in the last quarter. Hedge funds and other institutional investors own 50.85% of the company’s stock.

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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