Kanen Wealth Management LLC Acquires 192,572 Shares of Marchex, Inc. $MCHX

Key Points

• Kanen Wealth Management LLC increased its stake in Marchex, Inc. by 38.6% during the second quarter, acquiring an additional 192,572 shares to hold a total of 691,642 shares.
• Marchex, Inc. currently has a market cap of $84.83 million with shares trading at $1.92, showing a 52-week range between $1.26 and $2.40.
• Approximately 73.46% of Marchex's stock is owned by institutional investors, indicating significant interest from hedge funds and investment firms.

Kanen Wealth Management LLC lifted its holdings in Marchex, Inc. (NASDAQ:MCHX - Free Report) by 38.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 691,642 shares of the technology company's stock after acquiring an additional 192,572 shares during the quarter. Marchex accounts for about 0.6% of Kanen Wealth Management LLC's holdings, making the stock its 18th biggest holding. Kanen Wealth Management LLC owned approximately 1.58% of Marchex worth $1,494,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MCHX. Millennium Management LLC lifted its holdings 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 worth $37,000 after acquiring an additional 7,598 shares during the last quarter. Arcadia Wealth Management Inc. purchased a new position in shares of Marchex in the fourth quarter worth $51,000. Edenbrook Capital LLC increased its stake in shares of Marchex by 0.7% in the first quarter. Edenbrook Capital LLC now owns 14,664,380 shares of the technology company's stock worth $23,903,000 after buying an additional 102,475 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Marchex in the first quarter worth $30,000. 73.46% of the stock is currently owned by institutional investors.

Marchex Price Performance

Shares of NASDAQ MCHX opened at $1.92 on Tuesday. Marchex, Inc. has a 52 week low of $1.26 and a 52 week high of $2.40. The firm's fifty day moving average is $1.98 and its 200 day moving average is $1.81. The company has a market cap of $84.83 million, a price-to-earnings ratio of -17.45 and a beta of 1.91.

Marchex 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.

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