Marchex CFO Sells $774,390 in Stock (MCHX)
Marchex (NASDAQ:MCHX) CFO Michael A. Arends sold 69,142 shares of Marchex stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $11.20, for a total value of $774,390.40. Following the completion of the sale, the chief financial officer now directly owns 402,261 shares of the company’s stock, valued at approximately $4,505,323. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Separately, analysts at Northland Securities raised their price target on shares of Marchex from $15.50 to $17.00 in a research note on Monday, June 30th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Marchex has a consensus rating of “Buy” and an average target price of $12.97.
Marchex (NASDAQ:MCHX) traded up 1.27% during mid-day trading on Friday, hitting $11.14. The stock had a trading volume of 209,498 shares. Marchex has a 52-week low of $5.69 and a 52-week high of $12.84. The stock’s 50-day moving average is $11.65 and its 200-day moving average is $10.76. The company has a market cap of $409.7 million and a price-to-earnings ratio of 154.93.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, August 1st.
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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