Renaissance Technologies LLC Has $3.45 Million Position in Marchex, Inc. (NASDAQ:MCHX)
Renaissance Technologies LLC raised its position in shares of Marchex, Inc. (NASDAQ:MCHX) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,267,242 shares of the technology company’s stock after buying an additional 86,841 shares during the period. Renaissance Technologies LLC owned 3.00% of Marchex worth $3,447,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Kennedy Capital Management Inc. increased its position in shares of Marchex by 44.7% in the first quarter. Kennedy Capital Management Inc. now owns 554,914 shares of the technology company’s stock worth $1,509,000 after buying an additional 171,342 shares in the last quarter. Concourse Capital Management LLC acquired a new position in shares of Marchex during the first quarter worth $362,000. P.A.W. Capital Corp increased its position in shares of Marchex by 1.4% in the first quarter. P.A.W. Capital Corp now owns 1,400,000 shares of the technology company’s stock worth $3,808,000 after buying an additional 20,000 shares in the last quarter. Alambic Investment Management L.P. increased its position in shares of Marchex by 11.6% in the first quarter. Alambic Investment Management L.P. now owns 149,210 shares of the technology company’s stock worth $406,000 after buying an additional 15,500 shares in the last quarter. Finally, TFS Capital LLC acquired a new position in shares of Marchex during the first quarter worth $118,000. 51.45% of the stock is owned by institutional investors and hedge funds.
Shares of Marchex, Inc. (NASDAQ MCHX) traded up 1.06% during trading on Friday, hitting $2.85. 8,300 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $2.92 and a 200-day moving average price of $2.80. Marchex, Inc. has a one year low of $2.46 and a one year high of $3.75. The stock’s market cap is $121.85 million.
Marchex (NASDAQ:MCHX) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. Marchex had a negative net margin of 15.53% and a negative return on equity of 10.65%. The firm had revenue of $22.02 million during the quarter, compared to analysts’ expectations of $21.97 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The company’s revenue was down 36.0% compared to the same quarter last year. Equities research analysts expect that Marchex, Inc. will post ($0.07) EPS for the current fiscal year.
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A number of brokerages have weighed in on MCHX. Zacks Investment Research raised shares of Marchex from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research note on Wednesday. ValuEngine raised shares of Marchex from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Roth Capital set a $3.00 target price on shares of Marchex and gave the company a “hold” rating in a research note on Saturday, May 6th.
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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