Marchex, Inc. (MCHX) Shares Bought by Heartland Advisors Inc.
Heartland Advisors Inc. increased its position in Marchex, Inc. (NASDAQ:MCHX) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,000 shares of the technology company’s stock after acquiring an additional 56,118 shares during the period. Heartland Advisors Inc. owned approximately 1.31% of Marchex worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of MCHX. Goldman Sachs Group Inc. raised its stake in Marchex by 607.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 212,479 shares of the technology company’s stock worth $633,000 after acquiring an additional 182,452 shares during the last quarter. LMR Partners LLP purchased a new position in Marchex in the 2nd quarter worth $312,000. Dimensional Fund Advisors LP raised its stake in Marchex by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,309,609 shares of the technology company’s stock worth $3,903,000 after acquiring an additional 101,478 shares during the last quarter. Renaissance Technologies LLC raised its stake in Marchex by 7.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,267,242 shares of the technology company’s stock worth $3,447,000 after acquiring an additional 86,841 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in Marchex by 25.8% in the 2nd quarter. Synovus Financial Corp now owns 169,577 shares of the technology company’s stock worth $502,000 after acquiring an additional 34,802 shares during the last quarter. Institutional investors own 49.31% of the company’s stock.
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A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Marchex from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine upgraded Marchex from a “sell” rating to a “hold” rating in a research note on Friday, September 1st.
Shares of Marchex, Inc. (MCHX) opened at 3.10 on Wednesday. The firm’s market capitalization is $132.54 million. Marchex, Inc. has a 12 month low of $2.46 and a 12 month high of $3.75. The firm’s 50-day moving average price is $3.12 and its 200 day moving average price is $2.96.
Marchex (NASDAQ:MCHX) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $22.02 million during the quarter, compared to analysts’ expectations of $21.97 million. Marchex had a negative net margin of 15.53% and a negative return on equity of 10.65%. The firm’s revenue for the quarter was down 36.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. Analysts anticipate that Marchex, Inc. will post ($0.05) earnings per share for the current fiscal year.
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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