Marchex, Inc. (NASDAQ:MCHX) Short Interest Down 40.3% in February

Marchex, Inc. (NASDAQ:MCHX) was the target of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 17,200 shares, a decline of 40.3% from the January 31st total of 28,800 shares. Based on an average daily volume of 61,300 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

Marchex Stock Down 0.5 %

Shares of MCHX traded down $0.01 during mid-day trading on Monday, hitting $1.98. 46,054 shares of the company’s stock traded hands, compared to its average volume of 39,736. Marchex has a 1 year low of $1.11 and a 1 year high of $2.40. The firm has a market capitalization of $86.49 million, a P/E ratio of -22.00 and a beta of 1.92. The business’s 50-day moving average price is $1.96 and its 200-day moving average price is $1.89.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Marchex in a research note on Sunday. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Marchex

Several hedge funds have recently made changes to their positions in MCHX. AMH Equity Ltd purchased a new position in shares of Marchex during the fourth quarter valued at approximately $438,000. LPL Financial LLC purchased a new position in shares of Marchex during the fourth quarter valued at approximately $55,000. Geode Capital Management LLC increased its stake in shares of Marchex by 9.1% during the third 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 during the period. Finally, Millennium Management LLC increased its stake in shares of Marchex by 55.5% during the fourth 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. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.