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

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 13,200 shares, a decline of 39.7% from the February 28th total of 21,900 shares. Based on an average daily trading volume, of 44,000 shares, the short-interest ratio is presently 0.3 days. Currently, 0.0% of the company's shares are short sold.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $1.75 per share, with a total value of $121,094.75. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.65% of the stock is currently owned by corporate insiders.

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Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MCHX. Geode Capital Management LLC lifted its position 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 acquiring an additional 29,042 shares during the last quarter. AMH Equity Ltd acquired a new stake in shares of Marchex during the fourth quarter worth $438,000. LPL Financial LLC purchased a new position in Marchex in the 4th quarter valued at $55,000. Millennium Management LLC increased its stake in 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 buying an additional 7,598 shares during the period. Finally, Arcadia Wealth Management Inc. acquired a new position in Marchex in the 4th quarter valued at $51,000. Institutional investors and hedge funds own 73.46% of the company's stock.

Marchex Trading Down 0.3 %

MCHX traded down $0.01 on Tuesday, hitting $1.63. 7,104 shares of the company were exchanged, compared to its average volume of 43,485. The company has a market cap of $71.04 million, a price-to-earnings ratio of -18.22 and a beta of 1.87. The firm has a 50-day moving average price of $1.94 and a two-hundred day moving average price of $1.89. Marchex has a twelve month low of $1.20 and a twelve month high of $2.40.

Marchex (NASDAQ:MCHX - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The company had revenue of $11.92 million for the quarter, compared to analyst estimates of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. Equities analysts expect that Marchex will post -0.1 EPS for the current year.

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.