Marchex, Inc. (NASDAQ:MCHX) Short Interest Up 90.2% in March

Marchex, Inc. (NASDAQ:MCHX) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 25,100 shares, an increase of 90.2% from the March 15th total of 13,200 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 44,700 shares, the short-interest ratio is presently 0.6 days.

Marchex Stock Down 0.7 %

NASDAQ MCHX traded down $0.01 during trading on Wednesday, hitting $1.39. The stock had a trading volume of 7,291 shares, compared to its average volume of 42,412. The firm has a 50 day moving average price of $1.79 and a 200 day moving average price of $1.85. The company has a market capitalization of $60.76 million, a PE ratio of -15.44 and a beta of 1.71. Marchex has a twelve month low of $1.20 and a twelve month high of $2.40.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $12.01 million. On average, sell-side analysts anticipate that Marchex will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Marchex in a report on Friday, April 11th. They issued a “hold” rating on the stock.

Insider Buying and Selling at Marchex

In other Marchex news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the purchase, the insider now directly owns 1,391,535 shares in the company, valued at $2,435,186.25. This represents a 5.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.65% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings 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 purchasing an additional 7,598 shares during the period. Geode Capital Management LLC increased its position 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 acquiring an additional 12,255 shares during the last quarter. Arcadia Wealth Management Inc. bought a new stake in shares of Marchex in the fourth quarter worth $51,000. LPL Financial LLC acquired a new stake in Marchex during the fourth quarter valued at approximately $55,000. Finally, AMH Equity Ltd acquired a new position in Marchex in the fourth quarter worth $438,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.