Insider Selling: Michael A. Arends Sells 100,000 Shares of Marchex Stock (MCHX)
Marchex (NASDAQ:MCHX) CFO Michael A. Arends sold 100,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $11.25, for a total value of $1,125,000.00. Following the transaction, the chief financial officer now directly owns 402,261 shares in the company, valued at approximately $4,525,436. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on MCHX shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Marchex in a research note on Friday, May 2nd. They now have a $14.00 price target on the stock. Separately, analysts at Northland Securities raised their price target on shares of Marchex from $14.50 to $15.50 in a research note on Friday, May 2nd. They now have an “outperform” rating on the stock. Finally, analysts at Zacks downgraded shares of Marchex to a “neutral” rating in a research note on Wednesday, April 9th. They now have a $10.80 price target on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $12.72.
Marchex (NASDAQ:MCHX) traded up 1.50% during mid-day trading on Friday, hitting $11.47. 215,194 shares of the company’s stock traded hands. Marchex has a one year low of $5.42 and a one year high of $12.84. The stock has a 50-day moving average of $10.55 and a 200-day moving average of $10.18. The company has a market cap of $421.8 million and a P/E ratio of 159.15.
Marchex (NASDAQ:MCHX) last released its earnings data on Thursday, May 1st. The company reported $0.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.01. The company had revenue of $48.60 million for the quarter, compared to the consensus estimate of $44.60 million. During the same quarter last year, the company posted $0.04 earnings per share. Marchex’s revenue was up 40.1% compared to the same quarter last year. Analysts expect that Marchex will post $0.17 EPS for the current fiscal year.
Marchex, Inc is a digital call advertising and small business solutions company. The Company offers products, services and technologies that enable advertisers to reach local consumers across online, mobile and offline sources.
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