Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Acquires $29,607.00 in Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood acquired 10,650 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average price of $2.78 per share, for a total transaction of $29,607.00. Following the acquisition, the insider now owns 2,617,827 shares of the company’s stock, valued at approximately $7,277,559.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Barnwell Industries Stock Performance

BRN opened at $2.79 on Friday. The company has a market cap of $28.07 million, a P/E ratio of -10.33 and a beta of 0.19. The business’s 50-day moving average price is $2.38 and its 200-day moving average price is $2.44. Barnwell Industries, Inc. has a 12 month low of $2.06 and a 12 month high of $2.90.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BRN. Stilwell Value LLC purchased a new position in Barnwell Industries during the 1st quarter valued at about $220,000. Renaissance Technologies LLC increased its holdings in Barnwell Industries by 15.0% during the 1st quarter. Renaissance Technologies LLC now owns 637,622 shares of the company’s stock valued at $1,639,000 after purchasing an additional 83,286 shares during the period. Susquehanna International Group LLP purchased a new position in Barnwell Industries during the 1st quarter valued at about $75,000. Dimensional Fund Advisors LP purchased a new position in Barnwell Industries during the 1st quarter valued at about $78,000. Finally, Acadian Asset Management LLC increased its holdings in Barnwell Industries by 145.1% during 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 during the period. Hedge funds and other institutional investors own 40.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BRN. TheStreet downgraded Barnwell Industries from a “c” rating to a “d+” rating in a report on Thursday, March 14th. StockNews.com began coverage on Barnwell Industries in a report on Tuesday. They issued a “hold” rating on the stock.

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.