Recent SEC filings reveal that trusts associated with Ned L. Sherwood have been active in the market, purchasing shares of Barnwell Industries Inc. (NYSEAMERICAN:BRN), a company in the crude petroleum and natural gas sector. According to the documents, the transactions occurred over several days, with a total of $146,263 invested in the company's stock.
The purchases were made at weighted average prices ranging from $2.80 to $2.89 per share. On April 18th and 19th, the shares were acquired at an average price of $2.80, while on April 22nd, the average price was slightly higher at $2.89 per share. The filings indicate that these shares were bought indirectly through MRMP-Managers LLC, with Sherwood being the Chief Investment Officer and having a pecuniary interest in the shares.
The SEC filings show that a total of 51,150 shares were acquired across the different dates. This series of transactions demonstrates a significant investment by the trusts associated with Sherwood in Barnwell Industries. The filings also note that Sherwood disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
Investors often monitor such filings for insights into the actions of company insiders and significant shareholders. The accumulation of shares by trusts linked to Sherwood could be of interest to current and potential shareholders of Barnwell Industries as they assess the company's stock performance and market movements.
InvestingPro Insights
As Ned L. Sherwood's trusts show confidence in Barnwell Industries Inc. (NYSEAMERICAN:BRN) with recent share purchases, let's dive into some key metrics and tips from InvestingPro that could provide further context to investors. Barnwell Industries has demonstrated a strong return over the last month, with a price total return of 19.41%. This aligns with the company's historical performance, which also boasts a strong return over the last five years. Such trends can be a positive signal for investors looking for growth potential.
However, it's important to note that the company has not been profitable over the last twelve months, as reflected by its negative P/E ratio of -8.76. Despite this, the low PEG ratio of 0.05 suggests that the market may expect future growth which could eventually lead to profitability. Additionally, the company holds a Price / Book ratio of 1.31, indicating that the stock is trading at a reasonable valuation relative to its book value.
Investors interested in a deeper analysis of Barnwell Industries can find more InvestingPro Tips that could help in making informed decisions. For instance, the company's balance sheet strength is highlighted by holding more cash than debt, and the stock's low price volatility could appeal to risk-averse investors. To explore these insights in greater detail, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. There are currently 5 additional InvestingPro Tips available for Barnwell Industries, which could prove invaluable for a comprehensive investment strategy.
With the next earnings date set for May 13, 2024, investors will be watching closely to see if the company's financials align with the optimistic market movements and insider activity. Staying informed with real-time data and expert analysis from InvestingPro could be key in navigating the volatile energy sector.
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