Marchex (MCHX) Sees Large Volume Increase on Insider Buying Activity

Marchex, Inc. (NASDAQ:MCHX) saw strong trading volume on Tuesday after an insider bought additional shares in the company. 732,966 shares traded hands during trading, an increase of 831% from the previous session’s volume of 78,689 shares.The stock last traded at $2.94 and had previously closed at $2.79.

Specifically, major shareholder Edenbrook Capital, Llc bought 350,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $2.97 per share, for a total transaction of $1,039,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders purchased 735,144 shares of company stock worth $2,081,742. 22.49% of the stock is owned by insiders.

The stock has a market cap of $117.82 million, a P/E ratio of -21.00 and a beta of 0.98.

Marchex (NASDAQ:MCHX) last posted its earnings results on Monday, November 5th. The technology company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). Marchex had a negative return on equity of 3.44% and a negative net margin of 3.35%. The firm had revenue of $20.01 million for the quarter, compared to analysts’ expectations of $19.71 million. Equities research analysts forecast that Marchex, Inc. will post -0.1 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Marchex by 3.6% in the 2nd quarter. BlackRock Inc. now owns 794,348 shares of the technology company’s stock valued at $2,430,000 after acquiring an additional 27,930 shares during the period. Renaissance Technologies LLC boosted its stake in Marchex by 2.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,737,734 shares of the technology company’s stock valued at $5,317,000 after purchasing an additional 38,334 shares in the last quarter. Spark Investment Management LLC boosted its stake in Marchex by 46.9% during the 2nd quarter. Spark Investment Management LLC now owns 121,018 shares of the technology company’s stock valued at $370,000 after purchasing an additional 38,618 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Marchex by 14.0% during the 2nd quarter. Acadian Asset Management LLC now owns 585,853 shares of the technology company’s stock valued at $1,793,000 after purchasing an additional 72,047 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Marchex by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,638,140 shares of the technology company’s stock valued at $4,472,000 after purchasing an additional 86,190 shares in the last quarter. Hedge funds and other institutional investors own 50.09% of the company’s stock.

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Marchex Company Profile (NASDAQ:MCHX)

Marchex, Inc operates as a call analytics company. Its products include Marchex Call Analytics, an analytics technology platform that provides data and insights to measure the performance of mobile, online, and offline advertising for advertisers and small business resellers; and Marchex Speech Analytics delivers actionable operational and advertising insights of inbound calls from consumer's interactions.

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