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

Key Points

• Gallardo Juan Antonio Cortina, a major shareholder of Odyssey Marine Exploration, sold 96,409 shares for a total of $163,895.30, which represents a 3.24% reduction in his ownership stake.
• Recent stock transactions included two additional sales by Cortina totaling over $1.5 million in shares sold within the span of a few days.
• Wall Street analysts have recently downgraded Odyssey Marine Exploration's stock rating from "hold" to "sell", reflecting growing concerns about its performance.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) major shareholder Gallardo Juan Antonio Cortina sold 96,409 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $1.70, for a total transaction of $163,895.30. Following the sale, the insider directly owned 2,874,689 shares of the company's stock, valued at $4,886,971.30. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 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 transaction 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 transaction of $814,576.52.

Odyssey Marine Exploration Trading Up 5.8%

Odyssey Marine Exploration stock traded up $0.09 during mid-day trading on Wednesday, reaching $1.65. 2,792,873 shares of the company traded hands, compared to its average volume of 8,066,420. Odyssey Marine Exploration, Inc. has a fifty-two week low of $0.27 and a fifty-two week high of $5.25. The firm's fifty day moving average is $1.34 and its two-hundred day moving average is $0.87.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Seas Capital LP increased its holdings in Odyssey Marine Exploration by 2,449.0% in 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 buying an additional 2,449,049 shares in the last quarter. XTX Topco Ltd increased its holdings in Odyssey Marine Exploration by 225.5% in the fourth quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider's stock valued at $30,000 after buying an additional 28,943 shares in the last quarter. L. Roy Papp & Associates LLP purchased a new position in Odyssey Marine Exploration in the first quarter valued at $61,000. Voisard Asset Management Group Inc. increased its holdings in Odyssey Marine Exploration by 59.1% in 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 buying an additional 13,000 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Odyssey Marine Exploration in the fourth quarter valued at $25,000. Hedge funds and other institutional investors own 49.96% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research note 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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