Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Major Shareholder Sells $695,470.00 in 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 stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $1.70, for a total value of $695,470.00. Following the completion of the sale, the insider directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more 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 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.
• On Thursday, July 17th, Gallardo Juan Antonio Cortina sold 96,409 shares of Odyssey Marine Exploration stock. The shares were sold at an average price of $1.70, for a total value of $163,895.30.

Odyssey Marine Exploration Stock Performance

Shares of OMEX stock traded up $0.04 during trading on Monday, hitting $1.53. The company's stock had a trading volume of 432,308 shares, compared to its average volume of 7,938,256. The business has a fifty day moving average of $1.38 and a 200-day moving average of $0.90. Odyssey Marine Exploration, Inc. has a 52 week low of $0.27 and a 52 week high of $5.25.

Hedge Funds Weigh In On Odyssey Marine Exploration

Several institutional investors and hedge funds have recently bought and sold shares of OMEX. Two Sigma Investments LP bought a new position in Odyssey Marine Exploration during the fourth quarter valued at $25,000. XTX Topco Ltd grew its holdings in 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 period. Voisard Asset Management Group Inc. grew its holdings in 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 period. L. Roy Papp & Associates LLP bought a new position in Odyssey Marine Exploration during the first quarter valued at $61,000. Finally, Two Seas Capital LP grew its holdings in Odyssey Marine Exploration by 2,449.0% during the fourth quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider's stock valued at $1,835,000 after purchasing an additional 2,449,049 shares during the period. 49.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a report on Sunday, August 10th.

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.