In recent transactions, Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), acquired a total of $2,951 worth of common stock. The purchases, all made on December 17, 2024, were executed at a consistent price of $2.51 per share, near the stock's previous close of $2.50. The company has shown strong momentum, with a remarkable 51% gain over the past six months.
The acquisitions were spread across various accounts, including direct ownership and several indirect holdings through entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Asset Management LLC. These transactions collectively increased Stahl's direct and indirect holdings, with the largest direct ownership standing at 45,712 shares post-transaction. According to InvestingPro, RCG has maintained profitability over the last twelve months, with earnings per share of $0.16 and revenue growth of 21.5%.
Stahl's indirect holdings, which include shares held by his spouse and various corporate entities, also saw notable increases. However, he disclaims beneficial ownership of these indirectly held shares except to the extent of his pecuniary interest.
This series of acquisitions highlights Stahl's continued investment in RENN Fund, underscoring his confidence in the company's prospects.
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