Insider Buying: Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Buys $121,094.75 in Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc purchased 69,197 shares of the stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average cost of $1.75 per share, for a total transaction of $121,094.75. Following the completion of the acquisition, the insider now directly owns 1,391,535 shares in the company, valued at approximately $2,435,186.25. This trade represents a 5.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, March 27th, Edenbrook Capital, Llc acquired 2,316 shares of Marchex stock. The stock was purchased at an average cost of $1.69 per share, with a total value of $3,914.04.

Marchex Trading Down 0.6 %

Shares of NASDAQ MCHX opened at $1.68 on Friday. Marchex, Inc. has a 12-month low of $1.20 and a 12-month high of $2.40. The firm has a market capitalization of $73.44 million, a price-to-earnings ratio of -18.66 and a beta of 1.87. The firm has a 50 day moving average of $1.95 and a 200 day moving average of $1.89.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. AMH Equity Ltd bought a new stake in Marchex during the 4th quarter worth approximately $438,000. LPL Financial LLC purchased a new stake in shares of Marchex in the fourth quarter worth $55,000. Arcadia Wealth Management Inc. bought a new stake in shares of Marchex during the 4th quarter valued at $51,000. Geode Capital Management LLC lifted its stake 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 buying an additional 29,042 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Marchex by 55.5% in the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after buying an additional 7,598 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Marchex in a research note on Wednesday. They set a “hold” rating for the company.

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.