Brokerages Expect Marchex, Inc. (MCHX) Will Announce Quarterly Sales of $22.57 Million

Analysts forecast that Marchex, Inc. (NASDAQ:MCHX) will announce $22.57 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Marchex’s earnings, with the lowest sales estimate coming in at $22.54 million and the highest estimate coming in at $22.60 million. Marchex posted sales of $21.85 million in the same quarter last year, which suggests a positive year over year growth rate of 3.3%. The firm is scheduled to announce its next earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Marchex will report full year sales of $84.68 million for the current fiscal year, with estimates ranging from $84.66 million to $84.70 million. For the next financial year, analysts expect that the business will report sales of $100.40 million, with estimates ranging from $97.50 million to $103.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Marchex.

Marchex (NASDAQ:MCHX) last posted its earnings results on Monday, November 5th. The technology company reported ($0.02) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.02). The firm had revenue of $20.01 million for the quarter, compared to the consensus estimate of $19.71 million. Marchex had a negative net margin of 3.01% and a negative return on equity of 3.65%.

Separately, Zacks Investment Research raised shares of Marchex from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research report on Saturday, November 10th.

In related news, major shareholder Edenbrook Capital, Llc bought 350,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $2.97 per share, with a total value of $1,039,500.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased a total of 731,144 shares of company stock worth $2,070,782 over the last ninety days. Insiders own 22.49% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Spark Investment Management LLC grew its position in Marchex by 46.9% during the 2nd quarter. Spark Investment Management LLC now owns 121,018 shares of the technology company’s stock worth $370,000 after purchasing an additional 38,618 shares during the last quarter. Cpwm LLC grew its position in Marchex by 15.0% during the 3rd quarter. Cpwm LLC now owns 260,860 shares of the technology company’s stock worth $725,000 after purchasing an additional 34,013 shares during the last quarter. Acadian Asset Management LLC grew its position in Marchex by 14.0% during the 2nd quarter. Acadian Asset Management LLC now owns 585,853 shares of the technology company’s stock worth $1,793,000 after purchasing an additional 72,047 shares during the last quarter. Heartland Advisors Inc. grew its position in Marchex by 50.0% during the 2nd quarter. Heartland Advisors Inc. now owns 750,000 shares of the technology company’s stock worth $2,295,000 after purchasing an additional 250,000 shares during the last quarter. Finally, BlackRock Inc. grew its position in Marchex by 3.6% during the 2nd quarter. BlackRock Inc. now owns 794,348 shares of the technology company’s stock worth $2,430,000 after purchasing an additional 27,930 shares during the last quarter. 49.61% of the stock is currently owned by institutional investors.

Shares of NASDAQ MCHX traded down $0.02 during mid-day trading on Wednesday, reaching $3.06. The company had a trading volume of 118,771 shares, compared to its average volume of 138,716. The company has a market capitalization of $129.30 million, a price-to-earnings ratio of -21.86 and a beta of 0.98. Marchex has a 52-week low of $2.47 and a 52-week high of $3.67.

About Marchex

Marchex, Inc operates as a call analytics company. Its products include Marchex Call Analytics, an analytics technology platform that provides data and insights to measure the performance of mobile, online, and offline advertising for advertisers and small business resellers; and Marchex Speech Analytics delivers actionable operational and advertising insights of inbound calls from consumer's interactions.

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