Marchex, Inc. (NASDAQ:MCHX) Short Interest Down 39.7% in March

Marchex, Inc. (NASDAQ:MCHX) was the target of a large 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. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 44,000 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Marchex in a report on Wednesday. They set a “hold” rating for the company.

Marchex Stock Performance

MCHX stock traded down $0.01 during mid-day trading on Friday, reaching $1.68. The company had a trading volume of 98,488 shares, compared to its average volume of 43,674. Marchex has a fifty-two week low of $1.20 and a fifty-two week high of $2.40. The company has a market capitalization of $73.44 million, a price-to-earnings ratio of -18.66 and a beta of 1.87. The firm has a fifty day simple moving average of $1.95 and a 200 day simple moving average of $1.89.

Marchex (NASDAQ:MCHX) last announced 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). Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. The business had revenue of $11.92 million during the quarter, compared to analyst estimates of $12.01 million. As a group, analysts predict that Marchex will post -0.1 earnings per share for the current year.

Insider Transactions at Marchex

In related news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the transaction, the insider now directly owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. The trade was a 5.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 21.65% of the company’s stock.

Hedge Funds Weigh In On Marchex

A number of institutional investors have recently modified their holdings of MCHX. AMH Equity Ltd acquired a new position in shares of Marchex in the fourth quarter valued at approximately $438,000. LPL Financial LLC purchased a new position in Marchex in the 4th quarter valued at $55,000. Arcadia Wealth Management Inc. acquired a new position in Marchex in the 4th quarter valued at $51,000. Geode Capital Management LLC raised its position in Marchex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after buying an additional 29,042 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Marchex by 55.5% in the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after acquiring an additional 7,598 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

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.