Edenbrook Capital, Llc Buys 69,197 Shares of Marchex, Inc. (NASDAQ:MCHX) Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc acquired 69,197 shares of Marchex stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average cost of $1.75 per share, with a total value of $121,094.75. Following the transaction, the insider now owns 1,391,535 shares in the company, valued at $2,435,186.25. This represents a 5.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Thursday, March 27th, Edenbrook Capital, Llc bought 2,316 shares of Marchex stock. The stock was bought at an average cost of $1.69 per share, for a total transaction of $3,914.04.

Marchex Stock Down 0.6 %

Shares of NASDAQ MCHX opened at $1.68 on Friday. The firm has a market cap of $73.44 million, a P/E ratio of -18.66 and a beta of 1.87. Marchex, Inc. has a twelve month low of $1.20 and a twelve month high of $2.40. The company has a 50 day moving average of $1.95 and a 200 day moving average of $1.89.

Marchex (NASDAQ:MCHX) last posted its quarterly earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. The business had revenue of $11.92 million during the quarter, compared to analysts’ expectations of $12.01 million. As a group, equities analysts expect that Marchex, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Marchex

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Marchex by 9.1% in the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after purchasing an additional 29,042 shares during the last quarter. AMH Equity Ltd bought a new position in shares of Marchex during the 4th quarter valued at $438,000. Millennium Management LLC grew its holdings in shares of Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after acquiring an additional 7,598 shares during the period. Arcadia Wealth Management Inc. bought a new stake in shares of Marchex in the fourth quarter worth $51,000. Finally, LPL Financial LLC purchased a new stake in Marchex during the fourth quarter valued at $55,000. 73.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Marchex in a research report on Wednesday. They issued 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.