Insider Buying: Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Purchases 69,197 Shares of Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was purchased at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the transaction, the insider now owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. The trade was a 5.23 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% 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 purchased 2,316 shares of Marchex stock. The stock was acquired at an average price of $1.69 per share, for a total transaction of $3,914.04.

Marchex Stock Performance

Marchex stock remained flat at $1.69 during mid-day trading on Thursday. 13,502 shares of the company’s stock traded hands, compared to its average volume of 43,227. Marchex, Inc. has a one year low of $1.20 and a one year high of $2.40. The business has a 50-day moving average of $1.96 and a two-hundred day moving average of $1.89. The stock has a market cap of $73.88 million, a PE ratio of -18.78 and a beta of 1.87.

Marchex (NASDAQ:MCHX) last posted its earnings results on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. The company 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 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Marchex in a report on Wednesday. They issued a “hold” rating on the stock.

Institutional Trading of Marchex

A number of hedge funds and other institutional investors have recently made changes to their positions in MCHX. AMH Equity Ltd acquired a new stake in shares of Marchex in the 4th quarter valued at about $438,000. LPL Financial LLC purchased a new stake in Marchex in the fourth quarter valued at approximately $55,000. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex in the fourth quarter valued at approximately $51,000. Geode Capital Management LLC grew its position 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 acquiring an additional 29,042 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Marchex by 55.5% in the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock valued at $37,000 after acquiring an additional 7,598 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.