Shares of Marchex, Inc. (NASDAQ:MCHX) saw strong trading volume on Friday . 1,343,911 shares traded hands during mid-day trading, an increase of 3,718% from the previous session’s volume of 35,195 shares.The stock last traded at $3.12 and had previously closed at $3.06.
Several equities analysts recently commented on the stock. ValuEngine raised shares of Marchex from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Marchex from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th.
Marchex (NASDAQ:MCHX) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Marchex had a negative net margin of 11.72% and a negative return on equity of 7.75%. The firm had revenue of $22.02 million during the quarter, compared to analysts’ expectations of $21.97 million. During the same period in the prior year, the company posted ($0.02) EPS. The company’s revenue was down 36.0% on a year-over-year basis. research analysts anticipate that Marchex, Inc. will post -0.15 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC increased its position in Marchex by 19.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 34,889 shares of the technology company’s stock valued at $104,000 after acquiring an additional 5,629 shares during the period. Bank of America Corp DE increased its position in Marchex by 2.8% in the 1st quarter. Bank of America Corp DE now owns 48,573 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,331 shares during the period. LMR Partners LLP acquired a new stake in shares of Marchex during the second quarter worth $312,000. Synovus Financial Corp increased its position in shares of Marchex by 25.8% during the second quarter. Synovus Financial Corp now owns 169,577 shares of the technology company’s stock worth $502,000 after buying an additional 34,802 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Marchex by 3.1% during 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 period. Hedge funds and other institutional investors own 49.31% of the company’s stock.
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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