California Public Employees Retirement System held its stake in shares of Marchex, Inc. (NASDAQ:MCHX) during the first quarter, Holdings Channel reports. The firm owned 398,790 shares of the technology company’s stock at the end of the first quarter. California Public Employees Retirement System’s holdings in Marchex were worth $1,085,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in MCHX. Alambic Investment Management L.P. raised its stake in shares of Marchex by 11.6% in the first quarter. Alambic Investment Management L.P. now owns 149,210 shares of the technology company’s stock worth $406,000 after buying an additional 15,500 shares during the last quarter. TFS Capital LLC purchased a new stake in shares of Marchex during the first quarter worth $118,000. Bank of New York Mellon Corp raised its stake in shares of Marchex by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 174,205 shares of the technology company’s stock worth $473,000 after buying an additional 5,241 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Marchex during the first quarter worth $130,000. Finally, Acadian Asset Management LLC raised its stake in shares of Marchex by 12.1% in the first quarter. Acadian Asset Management LLC now owns 309,358 shares of the technology company’s stock worth $841,000 after buying an additional 33,319 shares during the last quarter. Institutional investors and hedge funds own 51.45% of the company’s stock.
Shares of Marchex, Inc. (NASDAQ:MCHX) remained flat at $2.82 during midday trading on Friday. 138,638 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $2.92 and its 200 day moving average price is $2.80. The firm’s market capitalization is $120.57 million. Marchex, Inc. has a 12 month low of $2.46 and a 12 month high of $3.75.
Marchex (NASDAQ:MCHX) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Marchex had a negative net margin of 5.81% and a negative return on equity of 4.63%. The business had revenue of $22.02 million for the quarter, compared to analysts’ expectations of $21.97 million. During the same period in the previous year, the company posted ($0.02) earnings per share. The business’s revenue for the quarter was down 36.0% compared to the same quarter last year. Equities research analysts predict that Marchex, Inc. will post ($0.07) earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Marchex from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a report on Wednesday. ValuEngine upgraded shares of Marchex from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Roth Capital set a $3.00 price objective on shares of Marchex and gave the company a “hold” rating in a report on Saturday, May 6th.
Marchex Company Profile
Marchex, Inc is a mobile advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. Its media analytics products can provide actionable intelligence on media channels advertisers use to acquire customers over the phone. Its Marchex Omnichannel Analytics Cloud helps marketers connect customer conversions driven from paid media channels, including search, display and video, social and sites, to phone calls made to a business.
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