Marchex, Inc. (MCHX) Stake Reduced by Acadian Asset Management LLC
Acadian Asset Management LLC lowered its position in Marchex, Inc. (NASDAQ:MCHX) by 3.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 298,554 shares of the technology company’s stock after selling 10,804 shares during the period. Acadian Asset Management LLC’s holdings in Marchex were worth $890,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Marchex during the fourth quarter worth approximately $220,000. Renaissance Technologies LLC boosted its stake in Marchex by 6.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,180,401 shares of the technology company’s stock worth $3,128,000 after buying an additional 68,400 shares during the last quarter. Algert Global LLC purchased a new stake in Marchex during the first quarter worth approximately $130,000. Bank of New York Mellon Corp boosted its stake in Marchex by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 174,205 shares of the technology company’s stock worth $473,000 after buying an additional 5,241 shares during the last quarter. Finally, TFS Capital LLC purchased a new stake in Marchex during the first quarter worth approximately $118,000. Institutional investors own 51.45% of the company’s stock.
Marchex, Inc. (MCHX) traded up 1.06% during midday trading on Friday, hitting $2.85. 64,651 shares of the stock traded hands. The company’s 50 day moving average price is $2.92 and its 200 day moving average price is $2.80. Marchex, Inc. has a 12 month low of $2.46 and a 12 month high of $3.75. The firm’s market cap is $121.85 million.
Marchex (NASDAQ:MCHX) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $22.02 million during the quarter, compared to analysts’ expectations of $21.97 million. Marchex had a negative return on equity of 10.65% and a negative net margin of 15.53%. The company’s revenue was down 36.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. Equities research analysts predict that Marchex, Inc. will post ($0.07) earnings per share for the current fiscal year.
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A number of equities research analysts have commented on MCHX shares. Zacks Investment Research upgraded shares of Marchex from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Roth Capital set a $3.00 target price on shares of Marchex and gave the stock a “hold” rating in a research note on Saturday, May 6th. Finally, ValuEngine upgraded shares of Marchex from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd.
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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