Marchex (NASDAQ:MCHX) Rating Lowered to Hold at Zacks Research

Marchex (NASDAQ:MCHX) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Marchex in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Marchex Trading Down 1.1%

Shares of NASDAQ MCHX opened at $1.71 on Tuesday. The firm has a 50 day moving average of $1.87 and a 200 day moving average of $1.86. The firm has a market capitalization of $75.59 million, a price-to-earnings ratio of -15.55 and a beta of 1.95. Marchex has a 12-month low of $1.26 and a 12-month high of $2.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MCHX. Jane Street Group LLC bought a new position in shares of Marchex in the first quarter worth about $30,000. Manatuck Hill Partners LLC acquired a new stake in Marchex in the 2nd quarter worth approximately $88,000. Marathon Capital Management boosted its stake in Marchex by 30.1% in the 2nd quarter. Marathon Capital Management now owns 54,000 shares of the technology company’s stock worth $117,000 after purchasing an additional 12,500 shares in the last quarter. Acuitas Investments LLC purchased a new position in Marchex during the 2nd quarter worth approximately $141,000. Finally, AMH Equity Ltd raised its position in Marchex by 28.2% during the 2nd quarter. AMH Equity Ltd now owns 278,276 shares of the technology company’s stock worth $609,000 after buying an additional 61,163 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Marchex Company Profile

Marchex, Inc, a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally. Its products include Marketing Edge that identifies which campaigns and channels are driving inbound conversations, evaluates what happens during those conversations, and closes the sales loop by connecting converted sales to marketing driven leads; Sonar Business Text Messaging, an artificial intelligence (AI) empowered intelligent workflow enabled mobile messaging solution that enables operations, sales, and marketing teams to communicate personally with field staff, prospects, and customers; Marchex Platform Services, a robust API-based conversation intelligence product that allows executives, sales, customer engagement, and marketing teams to apply Marchex AI to most any calls, regardless of communication platform, in order to identify actionable insights from conversations with their customers; Spotlight, an AI conversation analytics product for multi-location businesses; and Engage, a solution that provides locations with applications to enhance their overall performance.