Marchex (NASDAQ:MCHX) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Marchex (NASDAQ:MCHX) from a buy rating to a hold rating in a report published on Saturday morning, 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 topic of a number of other reports. ValuEngine lowered Marchex from a strong-buy rating to a buy rating in a research note on Monday, June 3rd. Northland Securities reaffirmed a buy rating and issued a $7.00 price target on shares of Marchex in a research note 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 has an average rating of Buy and an average target price of $6.42.

Shares of NASDAQ:MCHX opened at $4.00 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 stock has a 50 day moving average price of $4.51. The firm has a market capitalization of $172.45 million, a price-to-earnings ratio of -66.67 and a beta of 1.44. Marchex has a 1 year low of $2.47 and a 1 year high of $5.57.

In other news, major shareholder Long Only Value Fund Edenbrook purchased 61,600 shares of the stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average cost of $4.11 per share, with a total value of $253,176.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Edenbrook Capital, Llc purchased 15,608 shares of the stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average cost of $4.39 per share, for a total transaction of $68,519.12. The disclosure for this purchase can be found here. Insiders bought 134,508 shares of company stock worth $558,041 over the last ninety days. Corporate insiders own 22.49% of the company’s stock.

Large investors have recently modified their holdings of the company. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Marchex in the first quarter worth approximately $55,000. Raymond James Trust N.A. lifted its position in Marchex by 72.4% during the first quarter. Raymond James Trust N.A. now owns 19,426 shares of the technology company’s stock worth $92,000 after buying an additional 8,160 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in Marchex during the second quarter worth approximately $114,000. Oppenheimer Asset Management Inc. lifted its position in Marchex by 44.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 26,235 shares of the technology company’s stock worth $124,000 after buying an additional 8,067 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Marchex during the first quarter worth approximately $150,000. 50.85% of the stock is currently owned by hedge funds and other 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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