Insider Selling: Odyssey Marine Exploration (NASDAQ:OMEX) COO Sells 217,072 Shares of Stock

Key Points

• Odyssey Marine Exploration's COO John Longley, Jr. sold 217,072 shares at an average price of $3.72, decreasing his ownership by 59.09%.
• Shares traded down to $3.73 on Wednesday, with a 12-month range between $0.27 and $4.43.
• Institutional investors own nearly 50% of Odyssey Marine Exploration, with Voisard Asset Management Group boosting its stake by 59.1% recently.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) COO John Longley, Jr. sold 217,072 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $3.72, for a total value of $807,507.84. Following the completion of the transaction, the chief operating officer owned 150,313 shares of the company's stock, valued at $559,164.36. The trade was a 59.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Odyssey Marine Exploration Stock Performance

Shares of Odyssey Marine Exploration stock traded down $0.39 during trading hours on Wednesday, hitting $3.73. The company's stock had a trading volume of 6,803,588 shares, compared to its average volume of 6,954,169. Odyssey Marine Exploration, Inc. has a twelve month low of $0.27 and a twelve month high of $4.43. The firm has a fifty day moving average of $1.99 and a 200-day moving average of $1.37.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The business services provider reported ($0.48) EPS for the quarter. Odyssey Marine Exploration had a net margin of 174.35% and a negative return on equity of 14.85%. The business had revenue of $0.14 million during the quarter.

Institutional Investors Weigh In On Odyssey Marine Exploration

A hedge fund recently raised its stake in Odyssey Marine Exploration stock. Voisard Asset Management Group Inc. boosted its position in shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) by 59.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,000 shares of the business services provider's stock after buying an additional 13,000 shares during the period. Voisard Asset Management Group Inc. owned 0.11% of Odyssey Marine Exploration worth $41,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 49.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OMEX shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Odyssey Marine Exploration in a report on Wednesday, October 8th. Wall Street Zen lowered Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".

About Odyssey Marine Exploration

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.