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 Marchex stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the acquisition, the insider now owns 1,391,535 shares in the company, valued at $2,435,186.25. This represents a 5.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% 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 Stock Down 2.4 %

Marchex stock traded down $0.04 during trading on Monday, reaching $1.64. The stock had a trading volume of 1,409 shares, compared to its average volume of 43,507. Marchex, Inc. has a 52-week low of $1.20 and a 52-week high of $2.40. The stock has a market cap of $71.69 million, a PE ratio of -18.22 and a beta of 1.87. The business has a 50 day moving average price of $1.95 and a 200 day moving average price of $1.89.

Marchex (NASDAQ:MCHX - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $11.92 million for the quarter, compared to analysts' expectations of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. On average, equities analysts predict that Marchex, Inc. will post -0.1 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted 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 in the last quarter. Geode Capital Management LLC boosted 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 valued at $630,000 after buying an additional 12,255 shares in the last quarter. Arcadia Wealth Management Inc. purchased a new position in shares of Marchex in the 4th quarter valued at $51,000. LPL Financial LLC acquired a new stake in Marchex during the 4th quarter worth $55,000. Finally, AMH Equity Ltd purchased a new stake in Marchex in the fourth quarter valued at $438,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Marchex in a research note on Wednesday, March 26th. They issued a "hold" rating for the company.

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.