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 stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $1.72, for a total value of $814,576.52. Following the transaction, the insider owned 2,401,098 shares in the company, valued at approximately $4,129,888.56. This trade represents a 16.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases 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 stock was 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 stock was sold at an average price of $1.70, for a total transaction of $163,895.30.

Odyssey Marine Exploration Stock Performance

NASDAQ:OMEX traded up $0.04 on Monday, hitting $1.53. 432,308 shares of the stock were exchanged, compared to its average volume of 7,938,256. Odyssey Marine Exploration, Inc. has a 52 week low of $0.27 and a 52 week high of $5.25. The company's 50-day moving average price is $1.38 and its 200 day moving average price is $0.90.

Institutional Trading of Odyssey Marine Exploration

A number of institutional investors and hedge funds have recently modified their holdings of OMEX. XTX Topco Ltd grew its position 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 purchasing an additional 28,943 shares during the period. Two Seas Capital LP grew its position in shares of Odyssey Marine Exploration by 2,449.0% in the 4th 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. Two Sigma Investments LP acquired a new position in shares of Odyssey Marine Exploration in the 4th quarter valued at approximately $25,000. L. Roy Papp & Associates LLP acquired a new position in shares of Odyssey Marine Exploration in the 1st quarter valued at approximately $61,000. Finally, Voisard Asset Management Group Inc. grew its position in shares of 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 purchasing an additional 13,000 shares during the period. 49.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research note on Sunday, August 10th.

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.