Short Interest in Marchex, Inc. (NASDAQ:MCHX) Rises By 90.2%

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 25,100 shares, a growth of 90.2% from the March 15th total of 13,200 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 44,700 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Marchex in a research report on Saturday. They set a "hold" rating on the stock.

Marchex Price Performance

Shares of Marchex stock traded up $0.08 during trading on Friday, hitting $1.47. The stock had a trading volume of 28,622 shares, compared to its average volume of 42,588. Marchex has a 12 month low of $1.20 and a 12 month high of $2.40. The stock has a market cap of $64.26 million, a PE ratio of -16.33 and a beta of 1.71. The firm's fifty day simple moving average is $1.76 and its 200-day simple moving average is $1.84.

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

Insider Transactions at Marchex

In other Marchex news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of Marchex stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price 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 of the company's stock, valued at approximately $2,435,186.25. This trade represents a 5.23 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 21.65% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its holdings in 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 buying an additional 7,598 shares during the period. Arcadia Wealth Management Inc. purchased a new stake in shares of Marchex during the fourth quarter valued at about $51,000. LPL Financial LLC bought a new stake in shares of Marchex in the 4th quarter valued at about $55,000. AMH Equity Ltd acquired a new stake in shares of Marchex in the fourth quarter worth $438,000. Finally, Geode Capital Management LLC raised its holdings 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 last quarter. 73.46% of the stock is currently owned by institutional investors.

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.