Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Edenbrook Capital, Llc Acquires 20,600 Shares

Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc bought 20,600 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of $4.13 per share, with a total value of $85,078.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Thursday, November 14th, Edenbrook Capital, Llc bought 41,400 shares of Marchex stock. The shares were bought at an average price of $4.15 per share, with a total value of $171,810.00.
  • On Thursday, November 7th, Edenbrook Capital, Llc bought 100,000 shares of Marchex stock. The shares were bought at an average price of $3.78 per share, with a total value of $378,000.00.
  • On Thursday, October 24th, Edenbrook Capital, Llc bought 1,677 shares of Marchex stock. The shares were bought at an average price of $3.07 per share, with a total value of $5,148.39.
  • On Monday, October 14th, Edenbrook Capital, Llc bought 215 shares of Marchex stock. The shares were bought at an average price of $3.07 per share, with a total value of $660.05.
  • On Thursday, October 10th, Edenbrook Capital, Llc bought 200 shares of Marchex stock. The shares were bought at an average price of $3.04 per share, with a total value of $608.00.
  • On Thursday, October 3rd, Edenbrook Capital, Llc bought 5,332 shares of Marchex stock. The shares were bought at an average price of $3.05 per share, with a total value of $16,262.60.
  • On Tuesday, October 1st, Edenbrook Capital, Llc bought 2,500 shares of Marchex stock. The shares were bought at an average price of $3.10 per share, with a total value of $7,750.00.
  • On Friday, September 27th, Edenbrook Capital, Llc bought 4,681 shares of Marchex stock. The shares were bought at an average price of $3.20 per share, with a total value of $14,979.20.
  • On Tuesday, September 24th, Edenbrook Capital, Llc bought 11,273 shares of Marchex stock. The shares were bought at an average price of $3.27 per share, with a total value of $36,862.71.
  • On Thursday, September 19th, Edenbrook Capital, Llc acquired 11,908 shares of Marchex stock. The stock was acquired at an average price of $3.25 per share, with a total value of $38,701.00.

NASDAQ MCHX traded down $0.14 on Friday, hitting $3.98. The company’s stock had a trading volume of 103,000 shares, compared to its average volume of 188,615. Marchex, Inc. has a 52-week low of $2.51 and a 52-week high of $5.57. The company has a current ratio of 4.28, a quick ratio of 3.69 and a debt-to-equity ratio of 0.06. The company’s 50-day simple moving average is $3.32 and its 200 day simple moving average is $4.03. The firm has a market cap of $178.50 million, a P/E ratio of -66.33 and a beta of 1.48.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCHX. Strs Ohio purchased a new stake in Marchex in the 2nd quarter worth approximately $507,000. Stone Ridge Asset Management LLC purchased a new stake in Marchex in the 2nd quarter worth approximately $114,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Marchex by 11.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,565 shares of the technology company’s stock worth $487,000 after buying an additional 11,044 shares during the period. Acadian Asset Management LLC lifted its holdings in Marchex by 1.6% in the 2nd quarter. Acadian Asset Management LLC now owns 625,230 shares of the technology company’s stock worth $2,939,000 after buying an additional 10,009 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Marchex by 107.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 387,031 shares of the technology company’s stock worth $1,819,000 after buying an additional 200,046 shares during the period. Institutional investors and hedge funds own 55.71% of the company’s stock.

MCHX has been the subject of several research analyst reports. ValuEngine upgraded Marchex from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Zacks Investment Research upgraded Marchex from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $5.83.

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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