Gallardo Juan Antonio Cortina Sells 409,100 Shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Stock

Key Points

• Major shareholder Gallardo Juan Antonio Cortina sold 409,100 shares of Odyssey Marine Exploration (NASDAQ:OMEX) for approximately $695,470, decreasing his ownership stake by 17.04%.
• The company's shares are currently trading at $1.65 with a twelve-month range between $0.27 and $5.25, and the stock experienced a 5.8% increase during recent trading hours.
• Institutional investors own nearly 50% of Odyssey Marine Exploration, with significant recent acquisitions including a 2,449.0% increase in shares by Two Seas Capital LP.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) major shareholder Gallardo Juan Antonio Cortina sold 409,100 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $1.70, for a total transaction of $695,470.00. Following the completion of the transaction, the insider owned 1,991,998 shares of the company's stock, valued at approximately $3,386,396.60. This trade represents a 17.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Friday, July 18th, Gallardo Juan Antonio Cortina sold 473,591 shares of Odyssey Marine Exploration stock. The stock was sold at an average price of $1.72, for a total transaction of $814,576.52.
• On Thursday, July 17th, Gallardo Juan Antonio Cortina sold 96,409 shares of Odyssey Marine Exploration stock. The stock was sold at an average price of $1.70, for a total transaction of $163,895.30.

Odyssey Marine Exploration Trading Up 5.8%

Shares of Odyssey Marine Exploration stock traded up $0.09 during trading hours on Wednesday, reaching $1.65. The stock had a trading volume of 2,792,873 shares, compared to its average volume of 8,066,420. Odyssey Marine Exploration, Inc. has a twelve month low of $0.27 and a twelve month high of $5.25. The stock's 50 day moving average is $1.34 and its 200 day moving average is $0.87.

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

Institutional Trading of Odyssey Marine Exploration

Hedge funds have recently bought and sold shares of the business. Voisard Asset Management Group Inc. raised its holdings in Odyssey Marine Exploration by 59.1% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider's stock valued at $41,000 after acquiring an additional 13,000 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Odyssey Marine Exploration during the 4th quarter worth approximately $25,000. XTX Topco Ltd boosted its position in shares of Odyssey Marine Exploration by 225.5% during the 4th quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider's stock worth $30,000 after purchasing an additional 28,943 shares during the period. L. Roy Papp & Associates LLP purchased a new position in shares of Odyssey Marine Exploration during the 1st quarter worth approximately $61,000. Finally, Two Seas Capital LP boosted its position in shares of Odyssey Marine Exploration by 2,449.0% during 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 purchasing an additional 2,449,049 shares during the period. Institutional investors and hedge funds own 49.96% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research report on Sunday.

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.

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