Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Major Shareholder Sells $814,576.52 in Stock

Key Points

• Major shareholder Gallardo Juan Antonio Cortina sold 473,591 shares of Odyssey Marine Exploration stock for approximately $814,576.52, resulting in a 16.47% decrease in ownership.
• Cortina also executed additional share sales shortly before, including selling 409,100 shares for $695,470.00 and 96,409 shares for $163,895.30.
• Odyssey Marine Exploration's stock is currently valued at $1.65, with a reported negative return on equity of 14.85% and a quarterly revenue of $0.14 million.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) major shareholder Gallardo Juan Antonio Cortina sold 473,591 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $1.72, for a total transaction of $814,576.52. Following the transaction, the insider owned 2,401,098 shares in the company, valued at approximately $4,129,888.56. The trade was a 16.47% decrease in their ownership of the stock. The transaction 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 stock 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 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 transaction of $163,895.30.

Odyssey Marine Exploration Stock Performance

Shares of OMEX stock traded up $0.09 on Wednesday, reaching $1.65. The company had a trading volume of 2,792,873 shares, compared to its average volume of 8,066,420. The company has a 50-day moving average of $1.34 and a 200-day moving average of $0.87. Odyssey Marine Exploration, Inc. has a 12 month low of $0.27 and a 12 month high of $5.25.

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 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 Ratings Changes

Separately, Wall Street Zen cut Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research note on Sunday.

Hedge Funds Weigh In On Odyssey Marine Exploration

Several hedge funds have recently made changes to their positions in the business. Voisard Asset Management Group Inc. grew its stake in shares of Odyssey Marine Exploration by 59.1% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider's stock worth $41,000 after acquiring an additional 13,000 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Odyssey Marine Exploration by 225.5% in the 4th 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 during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Odyssey Marine Exploration in the 4th quarter valued at approximately $25,000. L. Roy Papp & Associates LLP bought a new position in Odyssey Marine Exploration during the 1st quarter worth $61,000. Finally, Two Seas Capital LP increased its position in 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 buying an additional 2,449,049 shares during the period. 49.96% of the stock is owned by institutional investors.

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.

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