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 stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average price of $1.75 per share, with a total value of $121,094.75. Following the completion of the acquisition, the insider now directly owns 1,391,535 shares in the company, valued at $2,435,186.25. This trade represents a 5.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock 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 purchased 2,316 shares of Marchex stock. The stock was bought at an average cost of $1.69 per share, for a total transaction of $3,914.04.

Marchex Price Performance

NASDAQ:MCHX opened at $1.69 on Friday. The company has a market capitalization of $73.88 million, a PE ratio of -18.78 and a beta of 1.87. The stock’s 50 day moving average price is $1.95 and its 200 day moving average price 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 posted its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $11.92 million for the quarter, compared to analysts’ expectations of $12.01 million. Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. As a group, sell-side analysts anticipate that Marchex, Inc. will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Marchex

Several hedge funds have recently modified their holdings of MCHX. Millennium Management LLC raised its stake 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 about $51,000. LPL Financial LLC acquired a new stake in Marchex in the 4th quarter valued at $55,000. AMH Equity Ltd purchased a new position in shares of Marchex in the fourth quarter valued at $438,000. Finally, Geode Capital Management LLC raised its position in shares of Marchex by 3.5% in the 4th 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 in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.