Trading Report: The Concourse Capital Management LLC Reached $424,000 position of Marchex Inc. (MCHX)

The Concourse Capital Management LLC Reached $424,000 position  of Marchex Inc. (MCHX)

Concourse Capital Management LLC maintained its stake in shares of Marchex Inc. (NASDAQ:MCHX) during the second quarter, Holdings Channel reports. The institutional investor owned 133,230 shares of the company’s stock at the end of the second quarter. Concourse Capital Management LLC’s holdings in Marchex were worth $424,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Menta Capital LLC increased its stake in shares of Marchex by 21.9% in the first quarter. Menta Capital LLC now owns 67,327 shares of the company’s stock worth $300,000 after buying an additional 12,100 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Marchex by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 197,957 shares of the company’s stock worth $629,000 after buying an additional 5,093 shares during the period. California State Teachers Retirement System increased its stake in shares of Marchex by 1.6% in the second quarter. California State Teachers Retirement System now owns 70,117 shares of the company’s stock worth $223,000 after buying an additional 1,100 shares during the period. Prescott Group Capital Management L.L.C. increased its stake in shares of Marchex by 20.6% in the second quarter. Prescott Group Capital Management L.L.C. now owns 1,794,428 shares of the company’s stock worth $5,706,000 after buying an additional 306,895 shares during the period. Finally, Springbok Capital Management LLC increased its stake in shares of Marchex by 12.2% in the first quarter. Springbok Capital Management LLC now owns 23,139 shares of the company’s stock worth $103,000 after buying an additional 2,520 shares during the period. Institutional investors own 53.84% of the company’s stock.

Shares of Marchex Inc. (NASDAQ:MCHX) traded up 0.39% during mid-day trading on Friday, reaching $2.56. 30,062 shares of the company’s stock traded hands. The company’s 50 day moving average is $2.68 and its 200-day moving average is $3.20. Marchex Inc. has a 52 week low of $2.48 and a 52 week high of $5.14. The firm’s market cap is $106.83 million.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The business earned $34.40 million during the quarter, compared to analyst estimates of $34.97 million. Marchex had a negative net margin of 50.09% and a negative return on equity of 5.14%. Marchex’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share. Equities analysts expect that Marchex Inc. will post ($0.16) earnings per share for the current fiscal year.

Several analysts have issued reports on MCHX shares. Zacks Investment Research raised shares of Marchex from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Roth Capital reissued a “neutral” rating on shares of Marchex in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $5.69.

About Marchex

Marchex, Inc is an advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. The Company’s media analytics products connect call data to media channels, including search and display – down to the campaign, keyword and impression.

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