Kanen Wealth Management LLC Purchases Shares of 499,070 Marchex, Inc. (NASDAQ:MCHX)

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

Marchex Trading Down 5.6%

MCHX traded down $0.11 on Friday, hitting $1.85. 29,597 shares of the company's stock traded hands, compared to its average volume of 40,638. The company's 50 day simple moving average is $1.56 and its 200-day simple moving average is $1.80. The firm has a market cap of $80.87 million, a price-to-earnings ratio of -20.55 and a beta of 1.81. Marchex, Inc. has a one year low of $1.26 and a one year high of $2.40.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Marchex

In related news, major shareholder Edenbrook Capital, Llc bought 69,197 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was purchased at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.65% of the stock is currently owned by company insiders.

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.