Short Interest in Marchex, Inc. (NASDAQ:MCHX) Decreases By 39.7%

Marchex, Inc. (NASDAQ:MCHX) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 13,200 shares, a decrease of 39.7% from the February 28th total of 21,900 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 44,000 shares, the short-interest ratio is currently 0.3 days.

Insider Activity at Marchex

In other news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average cost of $1.75 per share, with a total value of $121,094.75. Following the acquisition, the insider now owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. This trade represents a 5.23 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marchex

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Marchex by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock valued at $630,000 after acquiring an additional 12,255 shares during the period. AMH Equity Ltd acquired a new stake in Marchex in the fourth quarter valued at $438,000. LPL Financial LLC bought a new position in Marchex during the 4th quarter worth $55,000. Arcadia Wealth Management Inc. bought a new position in Marchex during the 4th quarter worth $51,000. Finally, Millennium Management LLC lifted its holdings in Marchex by 55.5% during the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after buying an additional 7,598 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Marchex Price Performance

MCHX stock traded down $0.01 during midday trading on Friday, reaching $1.68. The company had a trading volume of 98,488 shares, compared to its average volume of 43,674. Marchex has a 1-year low of $1.20 and a 1-year high of $2.40. The stock has a 50 day moving average price of $1.95 and a 200-day moving average price of $1.89. The company has a market capitalization of $73.44 million, a price-to-earnings ratio of -18.66 and a beta of 1.87.

Marchex (NASDAQ:MCHX) last issued its earnings results on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $11.92 million during the quarter, compared to analyst estimates of $12.01 million. Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. As a group, research analysts anticipate that Marchex will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Marchex in a report on Wednesday. They set a “hold” rating for the company.

About Marchex

Marchex, Inc, a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally. Its products include Marketing Edge that identifies which campaigns and channels are driving inbound conversations, evaluates what happens during those conversations, and closes the sales loop by connecting converted sales to marketing driven leads; Sonar Business Text Messaging, an artificial intelligence (AI) empowered intelligent workflow enabled mobile messaging solution that enables operations, sales, and marketing teams to communicate personally with field staff, prospects, and customers; Marchex Platform Services, a robust API-based conversation intelligence product that allows executives, sales, customer engagement, and marketing teams to apply Marchex AI to most any calls, regardless of communication platform, in order to identify actionable insights from conversations with their customers; Spotlight, an AI conversation analytics product for multi-location businesses; and Engage, a solution that provides locations with applications to enhance their overall performance.