Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), has recently increased his stake in the company through a series of transactions. On December 23 and 24, Stahl acquired a total of 2,326 shares of RENN Fund's common stock at a consistent price of $2.43 per share, amounting to a total investment of $5,647. The purchase price sits near the middle of RCG's 52-week range of $1.52 to $2.85, with the stock showing remarkable strength, up nearly 47% over the past six months according to InvestingPro data.
The transactions included both direct and indirect acquisitions, with shares purchased under his own name and through various entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Asset Management LLC. Additionally, shares were also acquired indirectly through his spouse. InvestingPro analysis reveals the company has been profitable over the last twelve months, with revenue growth of 21.5%.
These transactions reflect a significant increase in Stahl's holdings in RENN Fund, demonstrating his continued confidence in the company's prospects. As of the latest filing, his direct ownership stands at 47,434 shares, with additional shares held indirectly through various entities. While InvestingPro data shows strong recent performance, it also flags that short-term obligations exceed liquid assets, with a current ratio of 0.16. Subscribers can access additional ProTips and detailed financial metrics to better understand the company's position.
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