Marin Software Incorporated (NASDAQ:MRIN) Sees Large Decline in Short Interest

Marin Software Incorporated (NASDAQ:MRIN – Get Rating) saw a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 822,200 shares, a drop of 17.8% from the May 15th total of 1,000,000 shares. Based on an average daily volume of 691,400 shares, the short-interest ratio is presently 1.2 days.

Several hedge funds have recently modified their holdings of MRIN. Royce & Associates LP increased its stake in shares of Marin Software by 67.9% during the 4th quarter. Royce & Associates LP now owns 726,894 shares of the company’s stock worth $2,697,000 after purchasing an additional 294,050 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Marin Software in the 1st quarter valued at approximately $320,000. Schonfeld Strategic Advisors LLC purchased a new position in Marin Software in the 3rd quarter valued at approximately $963,000. Paradigm Capital Management Inc. NY purchased a new position in Marin Software in the 1st quarter valued at approximately $286,000. Finally, BlackRock Inc. grew its stake in Marin Software by 191.6% in the 4th quarter. BlackRock Inc. now owns 141,847 shares of the company’s stock valued at $526,000 after buying an additional 93,208 shares in the last quarter. Institutional investors own 16.42% of the company’s stock.

Shares of MRIN stock traded up $0.07 during trading hours on Friday, hitting $1.74. 485 shares of the company were exchanged, compared to its average volume of 209,148. The firm has a fifty day simple moving average of $2.14 and a 200 day simple moving average of $3.06. Marin Software has a 52-week low of $1.55 and a 52-week high of $27.26.

About Marin Software (Get Rating)

Marin Software Incorporated, together with its subsidiaries, provides enterprise marketing software for advertisers and agencies in the United States, the United Kingdom, and internationally. It offers MarinOne, a search, social, and eCommerce advertising platform; Marin Search to manage advertising campaigns for advertisers and agencies; and Marin Social that enables advertisers to manage their Facebook, Instagram, and Twitter advertising, as well as managed services.

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