Edenbrook Capital, Llc Acquires 69,197 Shares of Marchex, Inc. (NASDAQ:MCHX) Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc bought 69,197 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were acquired at an average cost of $1.75 per share, with a total value of $121,094.75. Following the purchase, the insider now owns 1,391,535 shares of the company’s stock, valued at $2,435,186.25. The trade was a 5.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares 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 purchased 2,316 shares of Marchex stock. The shares were acquired at an average price of $1.69 per share, with a total value of $3,914.04.

Marchex Price Performance

Shares of MCHX stock remained flat at $1.69 during trading hours on Thursday. 13,502 shares of the stock traded hands, compared to its average volume of 43,227. The firm has a market capitalization of $73.88 million, a PE ratio of -18.78 and a beta of 1.87. The business’s fifty day moving average is $1.96 and its two-hundred day moving average is $1.89. Marchex, Inc. has a 52-week low of $1.20 and a 52-week high of $2.40.

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

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Marchex in a research report on Wednesday. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Marchex

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its position 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 acquiring an additional 7,598 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Marchex by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock valued at $630,000 after purchasing an additional 12,255 shares during the period. Arcadia Wealth Management Inc. acquired a new position in shares of Marchex in the fourth quarter valued at approximately $51,000. LPL Financial LLC acquired a new position in shares of Marchex in the fourth quarter valued at approximately $55,000. Finally, AMH Equity Ltd purchased a new stake in Marchex during the 4th quarter worth approximately $438,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.