Separately, Zacks Investment Research lowered shares of Marchex from a buy rating to a hold rating in a report on Wednesday, January 3rd.
Marchex (NASDAQ:MCHX) opened at $2.84 on Wednesday. Marchex has a fifty-two week low of $2.59 and a fifty-two week high of $3.67.
Marchex (NASDAQ:MCHX) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. Marchex had a negative net margin of 6.74% and a negative return on equity of 4.95%. The firm had revenue of $21.85 million for the quarter, compared to analyst estimates of $21.10 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. sell-side analysts forecast that Marchex will post -0.07 earnings per share for the current year.
In other Marchex news, major shareholder Edenbrook Capital, Llc bought 50,000 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were bought at an average price of $2.85 per share, for a total transaction of $142,500.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 353,831 shares of company stock worth $1,138,437 in the last 90 days. 27.35% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of MCHX. Kennedy Capital Management Inc. raised its holdings in shares of Marchex by 67.0% in the 4th quarter. Kennedy Capital Management Inc. now owns 1,129,581 shares of the technology company’s stock worth $3,649,000 after acquiring an additional 453,115 shares during the last quarter. Roumell Asset Management LLC grew its position in Marchex by 20.5% in the 3rd quarter. Roumell Asset Management LLC now owns 1,439,270 shares of the technology company’s stock worth $4,447,000 after purchasing an additional 245,220 shares in the last quarter. Renaissance Technologies LLC grew its position in Marchex by 13.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,689,796 shares of the technology company’s stock worth $5,458,000 after purchasing an additional 198,852 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Marchex by 11.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,458,252 shares of the technology company’s stock worth $4,506,000 after purchasing an additional 148,643 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new stake in Marchex in the 3rd quarter worth about $202,000. Institutional investors own 46.32% of the company’s stock.
Marchex, Inc is a mobile advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. Its media analytics products can provide actionable intelligence on media channels advertisers use to acquire customers over the phone. Its Marchex Omnichannel Analytics Cloud helps marketers connect customer conversions driven from paid media channels, including search, display and video, social and sites, to phone calls made to a business.
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