Long Only Value Fund Edenbrook Purchases 61,600 Shares of Marchex, Inc. (NASDAQ:MCHX) Stock

Marchex, Inc. (NASDAQ:MCHX) major shareholder Long Only Value Fund Edenbrook purchased 61,600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average price of $4.11 per share, with a total value of $253,176.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

MCHX traded up $0.19 during midday trading on Wednesday, hitting $4.35. 408 shares of the company’s stock traded hands, compared to its average volume of 213,631. The firm has a market cap of $183.40 million, a PE ratio of -71.67 and a beta of 1.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.50 and a current ratio of 3.50. Marchex, Inc. has a one year low of $2.47 and a one year high of $5.57.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.01 earnings per share for the quarter. The firm had revenue of $26.41 million for the quarter, compared to analyst estimates of $24.99 million. Marchex had a negative net margin of 3.40% and a negative return on equity of 1.77%. On average, sell-side analysts anticipate that Marchex, Inc. will post -0.05 earnings per share for the current fiscal year.

MCHX has been the subject of several research reports. Zacks Investment Research upgraded shares of Marchex from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Friday, February 15th. ValuEngine upgraded shares of Marchex from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Northland Securities restated a “buy” rating and set a $7.00 price target on shares of Marchex in a report on Friday, May 3rd. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Marchex presently has an average rating of “Buy” and an average price target of $6.67.

Institutional investors and hedge funds have recently modified their holdings of the stock. Algert Global LLC bought a new stake in shares of Marchex in the 4th quarter valued at about $29,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Marchex in the 1st quarter valued at about $50,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Marchex in the 1st quarter valued at about $55,000. Baker Avenue Asset Management LP bought a new stake in shares of Marchex in the 4th quarter valued at about $59,000. Finally, Raymond James Trust N.A. increased its stake in shares of Marchex by 72.4% in the 1st quarter. Raymond James Trust N.A. now owns 19,426 shares of the technology company’s stock valued at $92,000 after acquiring an additional 8,160 shares during the last quarter. 51.28% of the stock is currently owned by hedge funds and other institutional investors.

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Marchex Company Profile

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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