Insider Buying: Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Acquires 69,197 Shares of Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc bought 69,197 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 1,391,535 shares of the company’s stock, valued at $2,435,186.25. The trade was a 5.23 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, March 27th, Edenbrook Capital, Llc purchased 2,316 shares of Marchex stock. The stock was bought at an average price of $1.69 per share, for a total transaction of $3,914.04.

Marchex Price Performance

NASDAQ:MCHX opened at $1.68 on Friday. The company has a market cap of $73.44 million, a price-to-earnings ratio of -18.66 and a beta of 1.87. Marchex, Inc. has a 1 year low of $1.20 and a 1 year high of $2.40. The stock’s 50 day simple moving average is $1.95 and its two-hundred day simple moving average is $1.89.

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

Analyst Ratings Changes

Separately, StockNews.com began coverage on Marchex in a report on Wednesday. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MCHX. AMH Equity Ltd bought a new stake in Marchex during the fourth quarter worth approximately $438,000. LPL Financial LLC bought a new stake in shares of Marchex in the 4th quarter valued at approximately $55,000. Arcadia Wealth Management Inc. purchased a new position in shares of Marchex in the 4th quarter worth approximately $51,000. Geode Capital Management LLC increased its position in shares of Marchex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock valued at $650,000 after purchasing an additional 29,042 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Marchex by 55.5% during the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock valued at $37,000 after buying an additional 7,598 shares during the period. Institutional investors own 73.46% of the company’s 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.