Marchex, Inc. (NASDAQ:MCHX) Short Interest Down 39.7% in March

Marchex, Inc. (NASDAQ:MCHX) was the target of a significant drop in short interest during the month of 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 daily trading volume, of 44,000 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Marchex in a research note on Wednesday. They set a “hold” rating on the stock.

Insider Buying and Selling

In other Marchex news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the company’s stock in a transaction dated 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 purchase, the insider now directly owns 1,391,535 shares of the company’s stock, valued at $2,435,186.25. This trade represents a 5.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Marchex

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AMH Equity Ltd purchased a new position in Marchex during the 4th quarter worth $438,000. LPL Financial LLC purchased a new position in Marchex during the fourth quarter worth about $55,000. Arcadia Wealth Management Inc. bought a new stake in Marchex in the 4th quarter worth about $51,000. Geode Capital Management LLC increased its stake in Marchex by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock valued at $650,000 after buying an additional 29,042 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of 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 in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Marchex Price Performance

Shares of NASDAQ MCHX traded down $0.01 during mid-day trading on Friday, reaching $1.68. 98,488 shares of the company’s stock traded hands, 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 market cap of $73.44 million, a P/E ratio of -18.66 and a beta of 1.87. The business has a 50-day simple moving average of $1.95 and a 200 day simple moving average of $1.89.

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

Marchex Company Profile

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.