Marchex, Inc. (NASDAQ:MCHX) Short Interest Update

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

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the insider now owns 1,391,535 shares of the company’s stock, valued at $2,435,186.25. The trade was a 5.23 % increase in their ownership of the stock. The acquisition was disclosed in a 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 large investors have recently modified their holdings of MCHX. AMH Equity Ltd acquired a new position in Marchex during the fourth quarter worth $438,000. LPL Financial LLC acquired a new position in Marchex in the 4th quarter valued at about $55,000. Arcadia Wealth Management Inc. purchased a new position in Marchex in the 4th quarter valued at about $51,000. Geode Capital Management LLC grew its holdings in shares of Marchex by 9.1% during the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after buying an additional 29,042 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Marchex by 55.5% during 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 last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Marchex Trading Down 1.5 %

Shares of NASDAQ MCHX traded down $0.03 during midday trading on Monday, reaching $1.66. 22,629 shares of the company were exchanged, compared to its average volume of 43,597. The stock has a market cap of $72.35 million, a P/E ratio of -18.39 and a beta of 1.87. Marchex has a 1 year low of $1.20 and a 1 year high of $2.40. The stock has a fifty day simple moving average of $1.95 and a 200 day simple moving average of $1.89.

Marchex (NASDAQ:MCHX) last released its earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company 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, analysts forecast that Marchex will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Marchex in a research note on Wednesday, March 26th. 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.