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

Marchex, Inc. (NASDAQ:MCHX) was the recipient of a significant drop in short interest in 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 volume of 44,000 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the shares of the stock are sold short.

Marchex Trading Down 0.6 %

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

Marchex (NASDAQ:MCHX) last issued its quarterly 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 return on equity of 10.76% and a negative net margin of 8.60%. The firm had revenue of $11.92 million for the quarter, compared to analysts’ expectations of $12.01 million. On average, sell-side analysts predict that Marchex will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Marchex

In other news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were bought 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 $2,435,186.25. This trade represents a 5.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.65% of the company’s stock.

Hedge Funds Weigh In On Marchex

Several large investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock valued at $37,000 after purchasing an additional 7,598 shares during the period. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex during the 4th quarter worth $51,000. LPL Financial LLC acquired a new position in Marchex in the fourth quarter valued at $55,000. AMH Equity Ltd acquired a new stake in Marchex during the fourth quarter worth about $438,000. Finally, Geode Capital Management LLC raised its holdings in shares of Marchex by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock worth $630,000 after purchasing an additional 12,255 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.