Marchex, Inc. (MCHX) Shares Bought by Roumell Asset Management LLC
Roumell Asset Management LLC boosted its position in Marchex, Inc. (NASDAQ:MCHX) by 20.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,439,270 shares of the technology company’s stock after purchasing an additional 245,220 shares during the period. Marchex makes up approximately 10.5% of Roumell Asset Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Roumell Asset Management LLC owned approximately 3.30% of Marchex worth $4,447,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCHX. Renaissance Technologies LLC increased its position in shares of Marchex by 7.4% during the first 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 period. Bank of America Corp DE increased its position in shares of Marchex by 2.8% during the first quarter. Bank of America Corp DE now owns 48,573 shares of the technology company’s stock worth $132,000 after acquiring an additional 1,331 shares during the period. LMR Partners LLP purchased a new position in shares of Marchex during the second quarter worth approximately $312,000. Heartland Advisors Inc. purchased a new position in shares of Marchex during the second quarter worth approximately $1,323,000. Finally, Synovus Financial Corp increased its position in shares of Marchex by 25.8% during the second 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 period. 48.53% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Marchex from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Marchex from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Thursday, November 9th.
In related news, major shareholder Prescott Group Capital Managem sold 1,100,000 shares of Marchex stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $3.10, for a total transaction of $3,410,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 27.35% of the company’s stock.
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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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