Marchex, Inc. (NASDAQ:MCHX) Short Interest Update

Marchex, Inc. (NASDAQ:MCHX) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 21,900 shares, a growth of 27.3% from the February 13th total of 17,200 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 60,600 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Marchex

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of 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. AMH Equity Ltd purchased a new stake in shares of Marchex during the 4th quarter worth approximately $438,000. Millennium Management LLC lifted its position 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 last quarter. Arcadia Wealth Management Inc. purchased a new stake in shares of Marchex during the 4th quarter worth approximately $51,000. Finally, LPL Financial LLC purchased a new stake in shares of Marchex during the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Marchex Stock Down 3.5 %

Marchex stock traded down $0.07 during trading on Monday, reaching $1.91. The stock had a trading volume of 49,021 shares, compared to its average volume of 44,114. Marchex has a 52-week low of $1.20 and a 52-week high of $2.40. The business has a 50 day moving average price of $1.98 and a 200 day moving average price of $1.89. The stock has a market cap of $83.43 million, a PE ratio of -21.22 and a beta of 1.87.

Marchex (NASDAQ:MCHX) 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 firm had revenue of $11.92 million during the quarter, compared to analysts’ expectations of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. On average, equities analysts predict that Marchex will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Marchex in a research note on Monday, March 10th. They issued a “hold” rating for the company.

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.