Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Acquires 7,982 Shares of Stock

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Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc purchased 7,982 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of $3.20 per share, for a total transaction of $25,542.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Thursday, August 8th, Edenbrook Capital, Llc acquired 100,000 shares of Marchex stock. The stock was purchased at an average cost of $3.75 per share, with a total value of $375,000.00.
  • On Monday, August 5th, Edenbrook Capital, Llc acquired 20,500 shares of Marchex stock. The stock was purchased at an average cost of $4.05 per share, with a total value of $83,025.00.
  • On Friday, August 2nd, Edenbrook Capital, Llc acquired 5,100 shares of Marchex stock. The stock was purchased at an average price of $4.12 per share, with a total value of $21,012.00.
  • On Tuesday, July 30th, Edenbrook Capital, Llc bought 30,200 shares of Marchex stock. The shares were purchased at an average cost of $4.17 per share, for a total transaction of $125,934.00.
  • On Monday, July 22nd, Edenbrook Capital, Llc bought 1,500 shares of Marchex stock. The stock was acquired at an average price of $4.25 per share, for a total transaction of $6,375.00.
  • On Wednesday, June 26th, Edenbrook Capital, Llc bought 15,608 shares of Marchex stock. The stock was acquired at an average price of $4.39 per share, for a total transaction of $68,519.12.

Shares of NASDAQ MCHX traded up $0.21 during mid-day trading on Wednesday, reaching $3.58. 99,304 shares of the company’s stock were exchanged, compared to its average volume of 209,497. The firm has a 50-day moving average price of $3.67 and a two-hundred day moving average price of $4.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.69 and a quick ratio of 3.69. The firm has a market capitalization of $141.51 million, a price-to-earnings ratio of -59.67 and a beta of 1.62. Marchex, Inc. has a 52 week low of $2.47 and a 52 week high of $5.57.

A number of institutional investors and hedge funds have recently bought and sold shares of MCHX. Tower Research Capital LLC TRC purchased a new stake in Marchex during the second quarter worth about $45,000. Thompson Siegel & Walmsley LLC bought a new stake in Marchex in the first quarter worth about $55,000. AMP Capital Investors Ltd bought a new stake in Marchex in the second quarter worth about $62,000. Cubist Systematic Strategies LLC purchased a new position in Marchex in the second quarter valued at about $92,000. Finally, Stone Ridge Asset Management LLC purchased a new position in Marchex in the second quarter valued at about $114,000. Institutional investors own 57.15% of the company’s stock.

A number of analysts recently commented on the company. ValuEngine downgraded Marchex from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Zacks Investment Research lowered Marchex from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Marchex has a consensus rating of “Buy” and an average price target of $6.17.

About Marchex

Marchex, Inc operates as a call analytics company that helps businesses connect, drive, measure, and convert callers into customers. Its products include Marchex Call Analytics, an analytics platform for enterprises that depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Speech Analytics that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, which enable businesses to send and receive text/SMS messages with customers; Call Monitoring; Marchex Omnichannel Analytics Cloud products, such as Marchex Search Analytics, a product for search marketers that drive phone calls from search campaigns, as well as Marchex Display and Video Analytics, a product for marketers that buy digital display advertising; Marchex Site Analytics, a product for marketers that can drive phone calls from Websites; and Marchex Social Analytics, a product for marketers that buy social media advertising.

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