StockNews.com Initiates Coverage on Marchex (NASDAQ:MCHX)

StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a research note published on Tuesday morning. The brokerage issued a hold rating on the technology company’s stock.

Marchex Trading Down 2.3 %

Shares of NASDAQ:MCHX opened at $1.82 on Tuesday. The stock’s 50-day moving average price is $1.79 and its 200-day moving average price is $1.69. Marchex has a 12-month low of $1.11 and a 12-month high of $2.16. The stock has a market capitalization of $79.41 million, a P/E ratio of -20.20 and a beta of 1.96.

Institutional Trading of Marchex

A hedge fund recently raised its stake in Marchex stock. P.A.W. Capital Corp increased its holdings in Marchex, Inc. (NASDAQ:MCHX) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,000 shares of the technology company’s stock after purchasing an additional 51,000 shares during the quarter. Marchex makes up approximately 1.5% of P.A.W. Capital Corp’s holdings, making the stock its 13th largest holding. P.A.W. Capital Corp owned about 0.92% of Marchex worth $616,000 at the end of the most recent quarter. Institutional investors own 73.46% of the company’s stock.

About Marchex

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.