Insider Buying: Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Acquires 7,275 Shares of Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc purchased 7,275 shares of the firm’s stock in a transaction on Friday, September 10th. The stock was acquired at an average price of $3.01 per share, with a total value of $21,897.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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 Monday, September 13th, Edenbrook Capital, Llc purchased 447 shares of Marchex stock. The stock was purchased at an average price of $3.00 per share, for a total transaction of $1,341.00.
  • On Tuesday, September 7th, Edenbrook Capital, Llc purchased 37,554 shares of Marchex stock. The stock was purchased at an average price of $3.05 per share, for a total transaction of $114,539.70.
  • On Friday, August 27th, Edenbrook Capital, Llc acquired 51,428 shares of Marchex stock. The shares were bought at an average cost of $3.06 per share, with a total value of $157,369.68.
  • On Wednesday, August 25th, Edenbrook Capital, Llc purchased 26,065 shares of Marchex stock. The stock was bought at an average price of $3.05 per share, with a total value of $79,498.25.

NASDAQ MCHX opened at $3.04 on Wednesday. The company has a fifty day simple moving average of $2.88 and a 200 day simple moving average of $2.88. Marchex, Inc. has a 12-month low of $1.62 and a 12-month high of $3.67. The company has a market cap of $125.90 million, a P/E ratio of -9.21 and a beta of 1.84.

Marchex (NASDAQ:MCHX) last announced its quarterly earnings results on Thursday, August 5th. The technology company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. Marchex had a negative net margin of 22.26% and a negative return on equity of 19.67%. The business had revenue of $14.01 million for the quarter, compared to analysts’ expectations of $13.12 million. As a group, sell-side analysts anticipate that Marchex, Inc. will post -0.22 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCHX. Russell Investments Group Ltd. raised its position in Marchex by 51.1% in the 1st quarter. Russell Investments Group Ltd. now owns 83,951 shares of the technology company’s stock valued at $234,000 after buying an additional 28,396 shares during the last quarter. B. Riley Financial Inc. purchased a new position in Marchex in the first quarter worth $4,360,000. Stifel Financial Corp purchased a new position in Marchex in the first quarter worth $238,000. Dimensional Fund Advisors LP boosted its position in Marchex by 17.5% in the first quarter. Dimensional Fund Advisors LP now owns 163,493 shares of the technology company’s stock worth $459,000 after purchasing an additional 24,339 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Marchex in the first quarter worth $62,000. 57.98% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Marchex from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research report on Tuesday, August 17th.

About Marchex

Marchex, Inc operates as a conversational analytics and solutions company which helps businesses connect, drive, measure, convert callers into customers, and connects the voice of the customer to business. It offers Marchex call analytics platform, Marchex call marketplace and Marchex local leads products to automotive, travel and hospitality, telecommunications, insurance, home services, digital agencies, healthcare, education & careers, financial services, legal, real estate and senior living industries.

Recommended Story: Average Daily Trade Volume – What You Need to Know

Insider Buying and Selling by Quarter for Marchex (NASDAQ:MCHX)

Receive News & Ratings for Marchex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marchex and related companies with MarketBeat.com's FREE daily email newsletter.