Ned L. Sherwood Buys 10,650 Shares of Barnwell Industries, Inc. (NYSE:BRN) Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood acquired 10,650 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $2.78 per share, with a total value of $29,607.00. Following the completion of the transaction, the insider now directly owns 2,617,827 shares in the company, valued at approximately $7,277,559.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Barnwell Industries Trading Up 1.4 %

Shares of BRN stock opened at $2.83 on Friday. The company has a market cap of $28.47 million, a price-to-earnings ratio of -10.48 and a beta of 0.19. The stock has a 50 day simple moving average of $2.39 and a 200-day simple moving average of $2.45. Barnwell Industries, Inc. has a 12-month low of $2.06 and a 12-month high of $2.95.

Barnwell Industries (NYSE:BRN) last issued its earnings results on Monday, February 12th. The company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $6.16 million for the quarter. Barnwell Industries had a negative return on equity of 14.70% and a negative net margin of 11.35%.

Hedge Funds Weigh In On Barnwell Industries

Hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP purchased a new position in Barnwell Industries in the 3rd quarter valued at approximately $40,000. Dimensional Fund Advisors LP purchased a new position in Barnwell Industries in the 1st quarter valued at approximately $78,000. Susquehanna International Group LLP purchased a new position in Barnwell Industries in the 1st quarter valued at approximately $75,000. Acadian Asset Management LLC increased its stake in Barnwell Industries by 145.1% in the 1st quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock valued at $104,000 after purchasing an additional 24,118 shares in the last quarter. Finally, Stilwell Value LLC purchased a new position in Barnwell Industries in the 1st quarter valued at approximately $220,000. 40.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BRN has been the subject of a number of recent research reports. StockNews.com began coverage on Barnwell Industries in a research report on Tuesday. They set a “hold” rating for the company. TheStreet downgraded Barnwell Industries from a “c” rating to a “d+” rating in a research note on Thursday, March 14th.

Barnwell Industries Company Profile

Barnwell Industries, Inc acquires, develops, produces, and sells oil and natural gas in Canada. The company operates through three segments: Oil and Natural Gas, Land Investment, and Contract Drilling. It also acquires and develops crude oil and natural gas assets in the province of Alberta, as well as invests in land interests in Hawaii.