Marchex, Inc. (NASDAQ:MCHX) Sees Significant Decline in Short Interest

Key Points

• Marchex’s short interest fell 43.1% to 37,732 shares as of September 30, representing approximately 0.1% of shares outstanding and only 0.5 days to cover.
• The stock declined 2.8% to $1.23, while the company’s latest quarterly results missed expectations with a $0.01 adjusted loss per share and $11.0 million in revenue versus the $11.2 million estimate.
• Analyst sentiment remains negative, with ratings split between Hold and Sell and a consensus rating of “Reduce.” Institutional investors own 73.46% of Marchex, including Kanen Wealth Management’s 2.96% stake.

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 37,732 shares, a drop of 43.1% from the September 15th total of 66,288 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 77,181 shares, the days-to-cover ratio is presently 0.5 days.

Marchex Stock Down 2.8%

Shares of MCHX traded down $0.04 on Thursday, reaching $1.23. The stock had a trading volume of 24,287 shares, compared to its average volume of 24,279. Marchex has a twelve month low of $1.15 and a twelve month high of $2.00. The firm has a market capitalization of $54.72 million, a PE ratio of -10.33 and a beta of 1.90. The firm has a 50-day moving average of $1.54 and a 200 day moving average of $1.61.

Marchex (NASDAQ:MCHX - Get Free Report) last posted its earnings results on Wednesday, August 12th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Marchex had a negative net margin of 12.44% and a negative return on equity of 18.25%. The firm had revenue of $11.00 million during the quarter, compared to analyst estimates of $11.20 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Marchex in a research report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce".

Institutional Trading of Marchex

A hedge fund recently raised its position in Marchex stock. Kanen Wealth Management LLC grew its position in Marchex, Inc. (NASDAQ:MCHX - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300,388 shares of the technology company's stock after purchasing an additional 50,989 shares during the period. Marchex makes up approximately 0.7% of Kanen Wealth Management LLC's holdings, making the stock its 22nd largest holding. Kanen Wealth Management LLC owned approximately 2.96% of Marchex worth $2,016,000 at the end of the most recent quarter. Institutional investors own 73.46% of the company's stock.

Marchex Company Profile

Marchex, Inc is a conversation intelligence and analytics company that helps businesses understand and improve customer interactions. Its technology uses artificial intelligence, speech analytics, and automation to analyze conversations across phone calls, text messages, and other communication channels.

The company provides solutions designed to help organizations generate and manage leads, evaluate customer service and sales performance, identify buying intent, and improve marketing attribution.

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