Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), has recently increased his holdings in the company. According to a recent SEC filing, Stahl acquired a total of 1,230 shares of RENN Fund's common stock on November 19, 2024. The shares were purchased at a consistent price of $2.37 each, amounting to a total transaction value of approximately $2,915.
These acquisitions were made through various direct and indirect ownership channels, including holdings attributed to his spouse and entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Asset Management LLC. Following these transactions, Stahl's direct ownership stands at 38,930 shares, with additional shares held indirectly.
The purchases reflect Stahl's continued interest in the growth and performance of RENN Fund, a Texas-incorporated company specializing in investments and asset management.
InvestingPro Insights
Murray Stahl's recent acquisition of RENN Fund, Inc. (NYSE:RCG) shares aligns with several positive indicators highlighted by InvestingPro. The company has demonstrated strong financial performance, with revenue growth of 21.53% over the last twelve months as of Q2 2024. This growth trend is further supported by a quarterly revenue increase of 17.49% in Q2 2024.
InvestingPro Tips point out that RCG has been profitable over the last twelve months, which is reflected in its basic and diluted EPS of $0.16. This profitability is underscored by the company's impressive gross profit margin of 100% for the same period.
The market seems to be recognizing RCG's potential, as evidenced by the stock's strong return over the last three months. This is corroborated by InvestingPro Data showing a 28.77% price total return over the past three months and a substantial 47.8% return over the last six months.
While these metrics paint a positive picture, it's worth noting that InvestingPro Tips also indicate that RCG's short-term obligations exceed its liquid assets. This factor may be something for investors to consider alongside the company's growth trajectory.
For a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide valuable context to Murray Stahl's investment decision. Investors interested in a deeper dive into RCG's financials and market position can explore these additional tips on the InvestingPro platform.
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