Ancora Advisors LLC reduced its stake in shares of Marchex, Inc. (NASDAQ:MCHX) by 36.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 901,139 shares of the technology company’s stock after selling 512,668 shares during the quarter. Ancora Advisors LLC owned 2.13% of Marchex worth $4,235,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC purchased a new position in shares of Marchex during the first quarter valued at approximately $55,000. Stone Ridge Asset Management LLC purchased a new position in shares of Marchex during the second quarter valued at approximately $114,000. Oppenheimer Asset Management Inc. increased its position in shares of Marchex by 44.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 26,235 shares of the technology company’s stock valued at $124,000 after acquiring an additional 8,067 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Marchex during the first quarter valued at approximately $150,000. Finally, Algert Global LLC increased its position in shares of Marchex by 196.6% during the first quarter. Algert Global LLC now owns 31,905 shares of the technology company’s stock valued at $151,000 after acquiring an additional 21,149 shares in the last quarter. 57.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MCHX traded down $0.06 during trading hours on Friday, reaching $3.49. 8,111 shares of the stock traded hands, compared to its average volume of 104,354. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.07. Marchex, Inc. has a 52-week low of $2.47 and a 52-week high of $5.57. The company’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $4.44. The company has a market cap of $144.95 million, a P/E ratio of -58.17 and a beta of 1.62.
MCHX has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Marchex from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. ValuEngine downgraded shares of Marchex from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $6.17.
In other Marchex news, major shareholder Edenbrook Capital, Llc bought 30,200 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average cost of $4.17 per share, for a total transaction of $125,934.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Long Only Value Fund Edenbrook purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average price of $3.26 per share, for a total transaction of $65,200.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 217,693 shares of company stock worth $825,553. Corporate insiders own 18.43% of the company’s stock.
Marchex, Inc operates as a call analytics company that helps businesses connect, drive, measure, and convert callers into customers. Its products include Marchex Call Analytics, an analytics platform for enterprises that depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Speech Analytics that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, which enable businesses to send and receive text/SMS messages with customers; Call Monitoring; Marchex Omnichannel Analytics Cloud products, such as Marchex Search Analytics, a product for search marketers that drive phone calls from search campaigns, as well as Marchex Display and Video Analytics, a product for marketers that buy digital display advertising; Marchex Site Analytics, a product for marketers that can drive phone calls from Websites; and Marchex Social Analytics, a product for marketers that buy social media advertising.
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