Marchex, Inc. (MCHX) Short Interest Update
Marchex, Inc. (NASDAQ:MCHX) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 200,006 shares, a drop of 83.5% from the June 15th total of 1,214,006 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 471,827 shares, the short-interest ratio is currently 0.4 days.
Shares of Marchex (MCHX) opened at 2.82 on Friday. The firm’s 50-day moving average is $2.91 and its 200 day moving average is $2.76. The firm’s market capitalization is $119.07 million. Marchex has a one year low of $2.46 and a one year high of $3.75.
Marchex (NASDAQ:MCHX) last issued its earnings results on Thursday, May 4th. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. Marchex had a negative return on equity of 13.17% and a negative net margin of 71.14%. The company had revenue of $24.40 million for the quarter, compared to analyst estimates of $22.58 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. Marchex’s revenue for the quarter was down 32.2% on a year-over-year basis. Equities research analysts predict that Marchex will post ($0.08) earnings per share for the current year.
Several analysts have commented on MCHX shares. Zacks Investment Research upgraded shares of Marchex from a “sell” rating to a “hold” rating in a report on Thursday, March 23rd. Roth Capital set a $3.00 target price on shares of Marchex and gave the stock a “hold” rating in a report on Saturday, May 6th. Finally, ValuEngine upgraded shares of Marchex from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd.
Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of Marchex by 2.8% in the first quarter. Bank of America Corp DE now owns 48,573 shares of the technology company’s stock worth $132,000 after buying an additional 1,331 shares during the last quarter. Weiss Multi Strategy Advisers LLC raised its position in shares of Marchex by 104.2% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 130,000 shares of the technology company’s stock worth $354,000 after buying an additional 66,352 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Marchex by 7.4% in the first quarter. Renaissance Technologies LLC now owns 1,267,242 shares of the technology company’s stock worth $3,447,000 after buying an additional 86,841 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Marchex by 44.7% in the first quarter. Kennedy Capital Management Inc. now owns 554,914 shares of the technology company’s stock worth $1,509,000 after buying an additional 171,342 shares during the last quarter. Finally, Concourse Capital Management LLC purchased a new position in shares of Marchex during the first quarter worth $362,000. 51.96% of the stock is currently owned by institutional investors.
Marchex Company Profile
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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