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

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood bought 10,650 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were acquired at an average cost of $2.78 per share, for a total transaction of $29,607.00. Following the transaction, the insider now directly owns 2,617,827 shares in the company, valued at approximately $7,277,559.06. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Barnwell Industries Price Performance

Shares of BRN stock opened at $2.83 on Friday. Barnwell Industries, Inc. has a 1-year low of $2.06 and a 1-year high of $2.95. The stock’s 50-day moving average is $2.39 and its 200 day moving average is $2.45. The company has a market cap of $28.47 million, a P/E ratio of -10.48 and a beta of 0.19.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BRN shares. TheStreet downgraded shares of Barnwell Industries from a “c” rating to a “d+” rating in a research note on Thursday, March 14th. StockNews.com assumed coverage on Barnwell Industries in a report on Tuesday. They set a “hold” rating for the company.

Institutional Investors Weigh In On Barnwell Industries

A number of institutional investors have recently added to or reduced their stakes in BRN. Acadian Asset Management LLC boosted its position in Barnwell Industries by 145.1% during the first 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. Dimensional Fund Advisors LP acquired a new stake in Barnwell Industries in the first quarter worth about $78,000. Renaissance Technologies LLC boosted its holdings in Barnwell Industries by 15.0% in the first quarter. Renaissance Technologies LLC now owns 637,622 shares of the company’s stock worth $1,639,000 after acquiring an additional 83,286 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Barnwell Industries in the third quarter worth about $40,000. Finally, Stilwell Value LLC acquired a new stake in Barnwell Industries in the first quarter worth about $220,000. Institutional investors own 40.71% of the company’s stock.

About Barnwell Industries

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.