Marchex, Inc. (NASDAQ:MCHX) Short Interest Down 40.3% in February

Marchex, Inc. (NASDAQ:MCHX) was the recipient of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 17,200 shares, a drop of 40.3% from the January 31st total of 28,800 shares. Based on an average trading volume of 61,300 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Marchex

A number of hedge funds have recently made changes to their positions in the stock. AMH Equity Ltd bought a new position in Marchex in the fourth quarter valued at about $438,000. LPL Financial LLC bought a new stake in shares of Marchex in the 4th quarter valued at $55,000. Geode Capital Management LLC grew its holdings in Marchex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after acquiring an additional 29,042 shares during the period. Finally, Millennium Management LLC grew its stake in Marchex by 55.5% during the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after purchasing an additional 7,598 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Marchex in a research report on Sunday. They issued a “hold” rating for the company.

Marchex Price Performance

MCHX traded up $0.02 during trading on Friday, hitting $1.99. 16,695 shares of the stock traded hands, compared to its average volume of 39,577. Marchex has a twelve month low of $1.11 and a twelve month high of $2.40. The business has a 50 day moving average price of $1.96 and a 200 day moving average price of $1.90. The company has a market cap of $86.93 million, a price-to-earnings ratio of -22.11 and a beta of 1.92.

About Marchex

Marchex, Inc, a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally. Its products include Marketing Edge that identifies which campaigns and channels are driving inbound conversations, evaluates what happens during those conversations, and closes the sales loop by connecting converted sales to marketing driven leads; Sonar Business Text Messaging, an artificial intelligence (AI) empowered intelligent workflow enabled mobile messaging solution that enables operations, sales, and marketing teams to communicate personally with field staff, prospects, and customers; Marchex Platform Services, a robust API-based conversation intelligence product that allows executives, sales, customer engagement, and marketing teams to apply Marchex AI to most any calls, regardless of communication platform, in order to identify actionable insights from conversations with their customers; Spotlight, an AI conversation analytics product for multi-location businesses; and Engage, a solution that provides locations with applications to enhance their overall performance.