Marchex (NASDAQ:MCHX) Stock Rating Upgraded by Zacks Investment Research

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Marchex (NASDAQ:MCHX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $4.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.99% from the stock’s previous close.

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 raised shares of Marchex from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $6.00.

NASDAQ:MCHX traded down $0.01 during trading hours on Tuesday, reaching $3.81. The stock had a trading volume of 720 shares, compared to its average volume of 73,012. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.28 and a current ratio of 4.28. Marchex has a 52 week low of $3.01 and a 52 week high of $5.57. The company has a 50 day moving average price of $3.79 and a two-hundred day moving average price of $3.74. The stock has a market capitalization of $155.13 million, a PE ratio of -64.29 and a beta of 1.58.

Marchex (NASDAQ:MCHX) last posted its earnings results on Wednesday, November 6th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Marchex had a negative return on equity of 0.58% and a negative net margin of 4.24%. The firm had revenue of $24.79 million during the quarter, compared to the consensus estimate of $24.05 million. Equities research analysts predict that Marchex will post -0.05 EPS for the current year.

In related news, major shareholder Edenbrook Capital, Llc purchased 16,473 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was bought at an average price of $3.69 per share, for a total transaction of $60,785.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders purchased 278,154 shares of company stock valued at $1,074,991. 18.43% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in Marchex by 107.0% during the second quarter. Russell Investments Group Ltd. now owns 387,031 shares of the technology company’s stock valued at $1,819,000 after acquiring an additional 200,046 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Marchex by 682.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 82,683 shares of the technology company’s stock valued at $389,000 after acquiring an additional 72,113 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Marchex by 307.0% in the second quarter. Bank of New York Mellon Corp now owns 131,698 shares of the technology company’s stock valued at $619,000 after acquiring an additional 99,337 shares during the period. Renaissance Technologies LLC raised its stake in shares of Marchex by 17.5% in the second quarter. Renaissance Technologies LLC now owns 2,456,112 shares of the technology company’s stock valued at $11,544,000 after acquiring an additional 364,978 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Marchex by 27.3% in the second quarter. Northern Trust Corp now owns 131,768 shares of the technology company’s stock valued at $619,000 after acquiring an additional 28,225 shares during the period. Institutional investors own 55.49% 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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