Marchex Inc. (MCHX) Sees Large Volume Increase
Marchex Inc. (NASDAQ:MCHX) saw an uptick in trading volume on Tuesday . 96,661 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 84,775 shares.The stock last traded at $2.76 and had previously closed at $2.78.
Several brokerages recently commented on MCHX. Zacks Investment Research lowered shares of Marchex from a “hold” rating to a “sell” rating in a report on Tuesday, August 16th. Roth Capital reissued a “neutral” rating on shares of Marchex in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Marchex has an average rating of “Hold” and an average price target of $5.69.
The stock has a 50 day moving average price of $2.90 and a 200-day moving average price of $3.54. The firm’s market capitalization is $114.34 million.
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Marchex (NASDAQ:MCHX) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.02) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). Marchex had a negative return on equity of 5.14% and a negative net margin of 50.09%. The firm earned $34.40 million during the quarter, compared to the consensus estimate of $34.97 million. During the same period last year, the company earned $0.02 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts forecast that Marchex Inc. will post ($0.15) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. increased its stake in Marchex by 20.6% in the second quarter. Prescott Group Capital Management L.L.C. now owns 1,794,428 shares of the company’s stock worth $5,706,000 after buying an additional 306,895 shares during the period. Dimensional Fund Advisors LP increased its stake in Marchex by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,509,776 shares of the company’s stock worth $4,801,000 after buying an additional 29,042 shares during the period. Winslow Asset Management Inc. increased its stake in Marchex by 0.6% in the second quarter. Winslow Asset Management Inc. now owns 1,439,057 shares of the company’s stock worth $4,576,000 after buying an additional 8,880 shares during the period. Vanguard Group Inc. increased its stake in Marchex by 0.9% in the second quarter. Vanguard Group Inc. now owns 1,114,551 shares of the company’s stock worth $3,544,000 after buying an additional 10,122 shares during the period. Finally, P.A.W. Capital Corp increased its stake in Marchex by 31.8% in the second quarter. P.A.W. Capital Corp now owns 1,100,000 shares of the company’s stock worth $3,498,000 after buying an additional 265,600 shares during the period. 53.84% of the stock is owned by institutional investors.
Marchex, Inc is an advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. The Company’s media analytics products connect call data to media channels, including search and display – down to the campaign, keyword and impression.
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