234,615 Shares in Marchex, Inc. (NASDAQ:MCHX) Purchased by Ajo LP

Ajo LP acquired a new stake in shares of Marchex, Inc. (NASDAQ:MCHX) in the first quarter, HoldingsChannel.com reports. The firm acquired 234,615 shares of the technology company’s stock, valued at approximately $1,110,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Algert Global LLC bought a new position in shares of Marchex in the fourth quarter valued at about $29,000. Raymond James Trust N.A. raised its holdings in shares of Marchex by 72.4% in the first quarter. Raymond James Trust N.A. now owns 19,426 shares of the technology company’s stock valued at $92,000 after buying an additional 8,160 shares during the last quarter. Baker Avenue Asset Management LP bought a new position in shares of Marchex in the fourth quarter valued at about $59,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Marchex by 44.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 26,235 shares of the technology company’s stock valued at $124,000 after buying an additional 8,067 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Marchex by 7.2% in the first quarter. Wells Fargo & Company MN now owns 37,268 shares of the technology company’s stock valued at $176,000 after buying an additional 2,516 shares during the last quarter. 51.28% of the stock is owned by institutional investors.

MCHX has been the subject of a number of research analyst reports. Zacks Investment Research raised Marchex from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Friday, February 15th. ValuEngine raised Marchex from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Northland Securities reaffirmed a “buy” rating and issued a $7.00 price target on shares of Marchex in a report on Friday, May 3rd. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Marchex presently has an average rating of “Buy” and a consensus price target of $6.67.



In other news, major shareholder Long Only Value Fund Edenbrook acquired 61,600 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of $4.11 per share, with a total value of $253,176.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 22.49% of the company’s stock.

Marchex stock opened at $4.16 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.50 and a quick ratio of 3.50. Marchex, Inc. has a 12-month low of $2.47 and a 12-month high of $5.57. The stock has a market capitalization of $183.40 million, a P/E ratio of -69.33 and a beta of 1.50.

Marchex (NASDAQ:MCHX) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.01 earnings per share for the quarter. The firm had revenue of $26.41 million during the quarter, compared to analysts’ expectations of $24.99 million. Marchex had a negative return on equity of 1.77% and a negative net margin of 3.40%. As a group, sell-side analysts predict that Marchex, Inc. will post -0.05 EPS for the current fiscal year.

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Marchex Profile

Marchex, Inc operates as a call analytics company that helps businesses connect, drive, measure, and convert callers into customers. Its products include Marchex Call Analytics, an analytics platform for enterprises that depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Speech Analytics that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, which enable businesses to send and receive text/SMS messages with customers; Call Monitoring; Marchex Omnichannel Analytics Cloud products, such as Marchex Search Analytics, a product for search marketers that drive phone calls from search campaigns, as well as Marchex Display and Video Analytics, a product for marketers that buy digital display advertising; Marchex Site Analytics, a product for marketers that can drive phone calls from Websites; and Marchex Social Analytics, a product for marketers that buy social media advertising.

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Institutional Ownership by Quarter for Marchex (NASDAQ:MCHX)

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