499,070 Shares in Marchex, Inc. (NASDAQ:MCHX) Purchased by Kanen Wealth Management LLC

Kanen Wealth Management LLC purchased a new stake in Marchex, Inc. (NASDAQ:MCHX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 499,070 shares of the technology company's stock, valued at approximately $813,000. Marchex accounts for about 0.3% of Kanen Wealth Management LLC's holdings, making the stock its 20th biggest holding. Kanen Wealth Management LLC owned 1.14% of Marchex as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 valued at $37,000 after acquiring an additional 7,598 shares during the period. Geode Capital Management LLC increased its stake in 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 in the last quarter. Arcadia Wealth Management Inc. acquired a new position in shares of Marchex during the fourth quarter valued at about $51,000. LPL Financial LLC bought a new position in shares of Marchex during the 4th quarter worth about $55,000. Finally, AMH Equity Ltd bought a new position in shares of Marchex during the 4th quarter worth about $438,000. 73.46% of the stock is currently owned by institutional investors.

Marchex Stock Performance

Shares of NASDAQ MCHX traded up $0.07 during midday trading on Tuesday, hitting $1.99. 37,117 shares of the stock traded hands, compared to its average volume of 41,185. Marchex, Inc. has a one year low of $1.26 and a one year high of $2.40. The business has a 50 day moving average price of $1.53 and a two-hundred day moving average price of $1.79. The company has a market cap of $86.99 million, a PE ratio of -22.11 and a beta of 1.81.

Insider Activity at Marchex

In related news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of the stock in a transaction dated Tuesday, March 25th. The stock was 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on Marchex in a research note on Wednesday, May 21st. They set a "hold" rating on the 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.