Marchex, Inc. (NASDAQ:MCHX) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 459,200 shares, a decrease of 6.8% from the September 30th total of 492,900 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 115,800 shares, the short-interest ratio is currently 4.0 days.
In other news, major shareholder Long Only Value Fund Edenbrook acquired 20,000 shares of Marchex stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $3.26 per share, with a total value of $65,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Edenbrook Capital, Llc acquired 41,400 shares of Marchex stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $4.15 per share, with a total value of $171,810.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 378,917 shares of company stock valued at $942,119. 18.43% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MCHX. Strs Ohio purchased a new stake in shares of Marchex in the second quarter worth $507,000. Stone Ridge Asset Management LLC purchased a new position in Marchex during the second quarter valued at $114,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Marchex by 11.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,565 shares of the technology company’s stock valued at $487,000 after acquiring an additional 11,044 shares in the last quarter. Acadian Asset Management LLC grew its stake in Marchex by 1.6% during the second quarter. Acadian Asset Management LLC now owns 625,230 shares of the technology company’s stock valued at $2,939,000 after acquiring an additional 10,009 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Marchex by 107.0% during the second quarter. Russell Investments Group Ltd. now owns 387,031 shares of the technology company’s stock valued at $1,819,000 after acquiring an additional 200,046 shares in the last quarter. 56.58% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ MCHX opened at $3.97 on Tuesday. The firm has a fifty day moving average price of $3.38 and a 200-day moving average price of $4.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.28 and a quick ratio of 4.28. The stock has a market cap of $171.51 million, a PE ratio of -66.17 and a beta of 1.48. Marchex has a 1 year low of $2.51 and a 1 year high of $5.57.
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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