Marchex, Inc. (NASDAQ:MCHX) Sees Large Drop in Short Interest

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) was the target of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 17,200 shares, a drop of 40.3% from the January 31st total of 28,800 shares. Based on an average daily trading volume, of 61,300 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company's stock are sold short.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Marchex in a research report on Sunday. They issued a "hold" rating for the company.

Marchex Price Performance

Shares of MCHX stock traded up $0.01 during trading hours on Wednesday, reaching $1.96. 9,558 shares of the company traded hands, compared to its average volume of 46,310. Marchex has a 12-month low of $1.11 and a 12-month high of $2.40. The company has a market cap of $85.40 million, a P/E ratio of -21.72 and a beta of 1.92. The firm has a 50-day moving average price of $1.96 and a 200 day moving average price of $1.89.

Hedge Funds Weigh In On Marchex

A number of hedge funds and other institutional investors have recently made changes to their positions in MCHX. Geode Capital Management LLC raised its stake in Marchex by 9.1% in the third 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. AMH Equity Ltd acquired a new position in shares of Marchex during the 4th quarter worth approximately $438,000. Millennium Management LLC raised its stake 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 during the period. Finally, LPL Financial LLC acquired a new position in shares of Marchex during the 4th quarter worth approximately $55,000. Institutional investors own 73.46% of the company's stock.

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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.