Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), recently acquired additional shares of the company's common stock. According to a Form 4 filing with the Securities and Exchange Commission, Stahl purchased a total of 1,188 shares on December 19, 2024, at a consistent price of $2.49 per share. This acquisition amounted to a total investment of approximately $2,958. The purchase comes as RCG shares have shown remarkable strength, with a 50% gain over the past six months and trading near its 52-week high of $2.85.
The transactions included direct and indirect purchases, with shares acquired through various entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Hard Assets LLC. Following these transactions, Stahl's direct ownership stands at 46,444 shares, while his indirect ownership includes holdings through the aforementioned entities. InvestingPro analysis reveals several key insights about RCG's performance, with 5 additional exclusive tips available for subscribers.
These recent acquisitions reflect Stahl's continued investment in RENN Fund, a company based in Dallas, Texas, that operates as a closed-end management investment company. The fund has demonstrated strong financial performance, with revenue growth of 22% in the last twelve months and a beta of 0.68, indicating lower volatility compared to the broader market.
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