Marchex, Inc. (NASDAQ:MCHX) Short Interest Up 43.0% in May

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 19,300 shares, an increase of 43.0% from the April 30th total of 13,500 shares. Based on an average daily volume of 36,500 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the company's shares are short sold.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc purchased 69,197 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Marchex during the first quarter worth $30,000. Edenbrook Capital LLC increased its holdings in Marchex by 0.7% in the first quarter. Edenbrook Capital LLC now owns 14,664,380 shares of the technology company's stock valued at $23,903,000 after buying an additional 102,475 shares during the last quarter. Kanen Wealth Management LLC purchased a new position in Marchex in the first quarter valued at $813,000. Arcadia Wealth Management Inc. purchased a new position in Marchex in the fourth quarter valued at $51,000. Finally, Millennium Management LLC increased its holdings in Marchex by 55.5% in the fourth 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 during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Marchex Trading Up 1.1%

NASDAQ:MCHX traded up $0.02 during trading hours on Thursday, hitting $1.90. 78,051 shares of the stock were exchanged, compared to its average volume of 41,341. Marchex has a 52-week low of $1.26 and a 52-week high of $2.40. The firm's fifty day moving average price is $1.51 and its 200 day moving average price is $1.79. The company has a market cap of $83.06 million, a P/E ratio of -21.11 and a beta of 1.78.

Marchex (NASDAQ:MCHX - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The company had revenue of $11.92 million during 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%. Equities analysts expect that Marchex will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on Marchex in a report on Wednesday, May 21st. They issued a "hold" rating for the company.

Marchex Company 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.