StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX – Get Rating) in a research note issued on Thursday. The firm set a "hold" rating on the technology company's stock.
Marchex Price Performance
Shares of NASDAQ MCHX opened at $2.15 on Thursday. Marchex has a 1 year low of $1.23 and a 1 year high of $3.63. The company's 50-day moving average is $1.78 and its 200 day moving average is $1.95. The stock has a market capitalization of $90.76 million, a P/E ratio of -53.63 and a beta of 2.19.
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Hedge Funds Weigh In On Marchex
Hedge funds and other institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its holdings in Marchex by 256.5% in the fourth quarter. First Eagle Investment Management LLC now owns 205,801 shares of the technology company's stock worth $510,000 after purchasing an additional 148,078 shares during the period. B. Riley Financial Inc. grew its holdings in Marchex by 1.5% in the first quarter. B. Riley Financial Inc. now owns 3,017,496 shares of the technology company's stock worth $6,910,000 after purchasing an additional 45,585 shares during the period. State Street Corp grew its holdings in Marchex by 7.8% in the first quarter. State Street Corp now owns 136,696 shares of the technology company's stock worth $313,000 after purchasing an additional 9,881 shares during the period. Finally, Edenbrook Capital LLC grew its holdings in Marchex by 6.0% in the fourth quarter. Edenbrook Capital LLC now owns 14,524,634 shares of the technology company's stock worth $36,021,000 after purchasing an additional 821,126 shares during the period. Hedge funds and other institutional investors own 72.41% of the company's stock.
About Marchex
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Marchex, Inc operates as an analytics and solutions company that helps businesses connect, drive, measure, and convert callers into customers in the United States and Canada. Its products include Marchex Call Analytics, an analytics platform for enterprises, which depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Call Analytics, Conversation Edition that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, a solution for intelligent mobile messaging, which enables sales, marketing, and operations teams in businesses to engage in two-way communications with field staff, prospects, and customers through text/SMS messages; Call Monitoring for call recording; and Marchex Marketing Edge, an analytics solution for marketers in enterprise, mid-sized and small businesses that depend on inbound phone calls to drive sales, appointments and reservations.
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