Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Major Shareholder Sells $163,895.30 in Stock

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) major shareholder Gallardo Juan Antonio Cortina sold 96,409 shares of the company’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $1.70, for a total value of $163,895.30. Following the completion of the transaction, the insider directly owned 2,874,689 shares in the company, valued at approximately $4,886,971.30. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Gallardo Juan Antonio Cortina also recently made the following trade(s):

• On Tuesday, July 22nd, Gallardo Juan Antonio Cortina sold 409,100 shares of Odyssey Marine Exploration stock. The shares were sold at an average price of $1.70, for a total value of $695,470.00.
• On Friday, July 18th, Gallardo Juan Antonio Cortina sold 473,591 shares of Odyssey Marine Exploration stock. The shares were sold at an average price of $1.72, for a total value of $814,576.52.

Odyssey Marine Exploration Stock Up 5.8%

Shares of NASDAQ OMEX opened at $1.65 on Thursday. Odyssey Marine Exploration, Inc. has a 1-year low of $0.27 and a 1-year high of $5.25. The business’s fifty day moving average price is $1.35 and its two-hundred day moving average price is $0.88.

Odyssey Marine Exploration (NASDAQ:OMEX) last released its quarterly earnings results on Monday, May 12th. The business services provider reported $0.01 earnings per share (EPS) for the quarter. Odyssey Marine Exploration had a negative return on equity of 14.85% and a net margin of 2,054.49%. The company had revenue of $0.14 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Odyssey Marine Exploration from a “hold” rating to a “sell” rating in a research report on Sunday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Voisard Asset Management Group Inc. lifted its holdings in shares of Odyssey Marine Exploration by 59.1% during the second quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 13,000 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Odyssey Marine Exploration during the fourth quarter valued at $25,000. XTX Topco Ltd lifted its holdings in shares of Odyssey Marine Exploration by 225.5% during the fourth quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 28,943 shares during the last quarter. L. Roy Papp & Associates LLP purchased a new stake in Odyssey Marine Exploration in the 1st quarter worth about $61,000. Finally, Two Seas Capital LP lifted its stake in Odyssey Marine Exploration by 2,449.0% in the 4th quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider’s stock worth $1,835,000 after acquiring an additional 2,449,049 shares in the last quarter. Institutional investors own 49.96% of the company’s stock.

Odyssey Marine Exploration Company Profile

Odyssey Marine Exploration, Inc, together with its subsidiaries, discovers, validates, and develops seafloor mineral resources worldwide. The company provides specialized mineral exploration, project development, and marine services to clients. Odyssey Marine Exploration, Inc was founded in 1994 and is headquartered in Tampa, Florida.