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

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) major shareholder Edenbrook Capital, Llc bought 69,197 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were acquired at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases 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 shares were bought at an average cost of $1.69 per share, with a total value of $3,914.04.

Marchex Trading Down 3.0 %

NASDAQ:MCHX traded down $0.05 during mid-day trading on Monday, hitting $1.63. The stock had a trading volume of 32,527 shares, compared to its average volume of 43,630. Marchex, Inc. has a 52 week low of $1.20 and a 52 week high of $2.40. The stock has a market capitalization of $71.25 million, a price-to-earnings ratio of -18.11 and a beta of 1.87. The company has a 50 day simple moving average of $1.94 and a 200-day simple moving average of $1.89.

Marchex (NASDAQ:MCHX - Get Free Report) last posted its earnings results on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 business had revenue of $11.92 million during the quarter, compared to analyst estimates of $12.01 million. As a group, equities research analysts anticipate that Marchex, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Marchex in a research report on Wednesday, March 26th. They issued a "hold" rating on the stock.

Hedge Funds Weigh In On Marchex

Several hedge funds have recently modified their holdings of MCHX. Arcadia Wealth Management Inc. bought a new stake in Marchex in the fourth quarter worth about $51,000. Millennium Management LLC raised its position in shares of 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 purchasing an additional 7,598 shares during the period. Geode Capital Management LLC raised its position in shares of Marchex by 3.5% during the fourth 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. LPL Financial LLC acquired a new position in shares of Marchex in the 4th quarter valued at $55,000. Finally, AMH Equity Ltd purchased a new position in Marchex in the 4th quarter worth about $438,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.