Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Edenbrook Capital, Llc Purchases 69,197 Shares

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc purchased 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, with a total value of $121,094.75. Following the completion of the purchase, the insider now owns 1,391,535 shares in the company, valued at $2,435,186.25. This trade represents a 5.23 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Thursday, March 27th, Edenbrook Capital, Llc bought 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

Marchex stock opened at $1.69 on Friday. The stock has a market cap of $73.88 million, a price-to-earnings ratio of -18.78 and a beta of 1.87. The firm has a 50-day moving average of $1.95 and a two-hundred day moving average of $1.89. Marchex, Inc. has a 1 year low of $1.20 and a 1 year high of $2.40.

Marchex (NASDAQ:MCHX) last released its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business 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%. Research analysts expect that Marchex, Inc. will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MCHX. Millennium Management LLC raised its position 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 valued at $37,000 after purchasing an additional 7,598 shares during the last quarter. Arcadia Wealth Management Inc. acquired a new position in shares of Marchex in the 4th quarter valued at $51,000. LPL Financial LLC purchased a new position in Marchex during the fourth quarter worth approximately $55,000. AMH Equity Ltd purchased a new position in Marchex in the 4th quarter valued at about $438,000. Finally, Geode Capital Management LLC grew its holdings 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. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analyst Ratings Changes

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

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.