Short Interest in Marchex, Inc. (NASDAQ:MCHX) Increases By 90.2%

Marchex, Inc. (NASDAQ:MCHX) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 25,100 shares, an increase of 90.2% from the March 15th total of 13,200 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 44,700 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Marchex in a report on Friday, April 11th. They issued a “hold” rating for the company.

Marchex Price Performance

MCHX stock traded up $0.08 during mid-day trading on Friday, reaching $1.47. 28,622 shares of the company’s stock were exchanged, compared to its average volume of 42,437. The company has a market cap of $64.26 million, a price-to-earnings ratio of -16.33 and a beta of 1.71. Marchex has a 12-month low of $1.20 and a 12-month high of $2.40. The stock’s 50 day moving average is $1.77 and its 200 day moving average is $1.84.

Marchex (NASDAQ:MCHX) last released its quarterly earnings results on Thursday, March 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $11.92 million during the quarter, compared to analyst estimates of $12.01 million. Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. On average, research analysts forecast that Marchex will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Edenbrook Capital, Llc acquired 69,197 shares of Marchex stock in a transaction on Tuesday, March 25th. The stock was acquired at an average price of $1.75 per share, for a total transaction of $121,094.75. Following the purchase, the insider now owns 1,391,535 shares of the company’s stock, valued at approximately $2,435,186.25. This represents a 5.23 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.65% of the stock is owned by corporate insiders.

Institutional Trading of Marchex

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Marchex by 9.1% in the third 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. AMH Equity Ltd acquired a new position in shares of Marchex during the 4th quarter valued at about $438,000. LPL Financial LLC purchased a new stake in shares of Marchex in the fourth quarter valued at about $55,000. Millennium Management LLC increased its position 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 purchasing an additional 7,598 shares during the last quarter. Finally, Arcadia Wealth Management Inc. purchased a new position in Marchex during the fourth quarter worth about $51,000. Institutional investors and hedge funds 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.