Insider Buying: Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Buys 12,581 Shares of Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc purchased 12,581 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were purchased at an average price of $3.97 per share, for a total transaction of $49,946.57. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

  • On Friday, November 29th, Edenbrook Capital, Llc purchased 7,300 shares of Marchex stock. The shares were purchased at an average price of $4.00 per share, for a total transaction of $29,200.00.
  • On Wednesday, November 27th, Edenbrook Capital, Llc purchased 10,119 shares of Marchex stock. The shares were purchased at an average price of $3.97 per share, for a total transaction of $40,172.43.
  • On Thursday, November 14th, Edenbrook Capital, Llc purchased 41,400 shares of Marchex stock. The shares were purchased at an average price of $4.15 per share, for a total transaction of $171,810.00.
  • On Tuesday, November 12th, Edenbrook Capital, Llc purchased 20,600 shares of Marchex stock. The shares were purchased at an average price of $4.13 per share, for a total transaction of $85,078.00.
  • On Thursday, November 7th, Edenbrook Capital, Llc purchased 100,000 shares of Marchex stock. The shares were purchased at an average price of $3.78 per share, for a total transaction of $378,000.00.
  • On Thursday, October 24th, Edenbrook Capital, Llc purchased 1,677 shares of Marchex stock. The shares were purchased at an average price of $3.07 per share, for a total transaction of $5,148.39.
  • On Monday, October 14th, Edenbrook Capital, Llc purchased 215 shares of Marchex stock. The shares were purchased at an average price of $3.07 per share, for a total transaction of $660.05.
  • On Thursday, October 10th, Edenbrook Capital, Llc acquired 200 shares of Marchex stock. The shares were bought at an average cost of $3.04 per share, for a total transaction of $608.00.
  • On Thursday, October 3rd, Edenbrook Capital, Llc acquired 5,332 shares of Marchex stock. The shares were bought at an average cost of $3.05 per share, for a total transaction of $16,262.60.
  • On Tuesday, October 1st, Edenbrook Capital, Llc acquired 2,500 shares of Marchex stock. The shares were bought at an average cost of $3.10 per share, for a total transaction of $7,750.00.

MCHX stock traded down $0.04 during trading on Wednesday, reaching $3.92. 115,464 shares of the company traded hands, compared to its average volume of 129,217. Marchex, Inc. has a 12 month low of $2.51 and a 12 month high of $5.57. The business has a 50 day simple moving average of $3.62 and a 200 day simple moving average of $3.93. The company has a market capitalization of $173.23 million, a price-to-earnings ratio of -65.33 and a beta of 1.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.28 and a current ratio of 4.28.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Marchex had a negative return on equity of 0.58% and a negative net margin of 4.24%. The company had revenue of $24.79 million for the quarter, compared to the consensus estimate of $24.05 million. As a group, research analysts forecast that Marchex, Inc. will post -0.05 EPS for the current year.

A number of equities research analysts recently weighed in on the company. ValuEngine raised Marchex from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Zacks Investment Research raised Marchex from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $5.83.

A number of hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in Marchex by 17.5% during the second quarter. Renaissance Technologies LLC now owns 2,456,112 shares of the technology company’s stock valued at $11,544,000 after purchasing an additional 364,978 shares in the last quarter. BlackRock Inc. boosted its holdings in Marchex by 196.2% in the second quarter. BlackRock Inc. now owns 2,420,224 shares of the technology company’s stock worth $11,376,000 after acquiring an additional 1,603,048 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Marchex by 25.3% in the second quarter. Vanguard Group Inc. now owns 1,527,225 shares of the technology company’s stock worth $7,178,000 after acquiring an additional 308,046 shares in the last quarter. P.A.W. Capital Corp boosted its holdings in Marchex by 1.5% in the third quarter. P.A.W. Capital Corp now owns 1,000,000 shares of the technology company’s stock worth $3,140,000 after acquiring an additional 15,003 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Marchex by 1.6% in the second quarter. Acadian Asset Management LLC now owns 625,230 shares of the technology company’s stock worth $2,939,000 after acquiring an additional 10,009 shares in the last quarter. 55.49% of the stock is currently owned by institutional investors.

About Marchex

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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