Edenbrook Capital, Llc Buys 69,197 Shares of Marchex, Inc. (NASDAQ:MCHX) Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc purchased 69,197 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of $1.75 per share, with a total value of $121,094.75. Following the completion of the transaction, the insider now owns 1,391,535 shares of the company’s stock, valued at approximately $2,435,186.25. This trade represents a 5.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 stock was bought at an average cost of $1.69 per share, with a total value of $3,914.04.

Marchex Price Performance

Shares of NASDAQ:MCHX opened at $1.68 on Friday. The company has a market cap of $73.44 million, a PE ratio of -18.66 and a beta of 1.87. Marchex, Inc. has a 1 year low of $1.20 and a 1 year high of $2.40. The stock’s 50-day moving average is $1.95 and its 200 day moving average is $1.89.

Marchex (NASDAQ:MCHX) last released its quarterly earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $11.92 million during the quarter, compared to the consensus estimate of $12.01 million. Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. Analysts expect that Marchex, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Marchex

Several hedge funds and other institutional investors have recently modified their holdings of MCHX. Geode Capital Management LLC boosted its position in Marchex by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock valued at $630,000 after acquiring an additional 12,255 shares in the last quarter. AMH Equity Ltd purchased a new stake in Marchex in the fourth quarter worth $438,000. LPL Financial LLC bought a new position in Marchex in the fourth quarter worth $55,000. Arcadia Wealth Management Inc. purchased a new position in Marchex during the fourth quarter valued at $51,000. Finally, Millennium Management LLC boosted its holdings 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 valued at $37,000 after buying an additional 7,598 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.