Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Major Shareholder Gallardo Juan Antonio Cortina Sells 96,409 Shares

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) major shareholder Gallardo Juan Antonio Cortina sold 96,409 shares of the stock in a transaction dated Thursday, July 17th. The stock was 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 in the company, valued at $4,886,971.30. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major 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 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 Friday, July 18th, Gallardo Juan Antonio Cortina sold 473,591 shares of Odyssey Marine Exploration stock. The stock was sold at an average price of $1.72, for a total transaction of $814,576.52.

Odyssey Marine Exploration Stock Up 5.8%

NASDAQ:OMEX opened at $1.65 on Thursday. Odyssey Marine Exploration, Inc. has a 52-week low of $0.27 and a 52-week high of $5.25. The stock has a fifty day simple moving average of $1.35 and a 200-day simple moving average of $0.88.

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

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Odyssey Marine Exploration from a “hold” rating to a “sell” rating in a research report on Sunday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Seas Capital LP lifted its holdings in 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 in the last quarter. XTX Topco Ltd boosted its holdings in 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 worth $30,000 after acquiring an additional 28,943 shares during the period. L. Roy Papp & Associates LLP purchased a new position in Odyssey Marine Exploration in the 1st quarter worth approximately $61,000. Voisard Asset Management Group Inc. boosted its holdings in 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 worth $41,000 after acquiring an additional 13,000 shares during the period. Finally, Two Sigma Investments LP purchased a new position in Odyssey Marine Exploration in the 4th quarter worth approximately $25,000. 49.96% of the stock is currently owned by hedge funds and other institutional investors.

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.