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

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 25,100 shares, a growth of 90.2% from the March 15th total of 13,200 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 44,700 shares, the short-interest ratio is presently 0.6 days.

Insider Activity

In other Marchex news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of Marchex stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $1.75 per share, with a total value of $121,094.75. Following the completion of 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 21.65% of the stock is owned by corporate insiders.

Institutional Trading of Marchex

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Marchex by 9.1% in the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company's stock worth $650,000 after purchasing an additional 29,042 shares during the period. AMH Equity Ltd acquired a new stake in Marchex during the 4th quarter worth $438,000. Millennium Management LLC lifted its holdings in Marchex by 55.5% during the fourth 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 in the last quarter. Kanen Wealth Management LLC bought a new position in Marchex during the first quarter worth about $813,000. Finally, Arcadia Wealth Management Inc. acquired a new position in Marchex in the fourth quarter valued at about $51,000. 73.46% of the stock is owned by institutional investors.

Marchex Trading Down 3.7 %

Shares of Marchex stock traded down $0.06 during midday trading on Monday, reaching $1.42. The company had a trading volume of 16,035 shares, compared to its average volume of 42,601. The stock has a fifty day simple moving average of $1.76 and a 200 day simple moving average of $1.84. Marchex has a 1-year low of $1.20 and a 1-year high of $2.40. The company has a market capitalization of $61.86 million, a price-to-earnings ratio of -15.72 and a beta of 1.71.

Marchex (NASDAQ:MCHX - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $11.92 million for the quarter, compared to analyst estimates of $12.01 million. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. Sell-side analysts expect that Marchex will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Marchex in a report on Saturday. They set a "hold" rating on the stock.

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.