Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), has increased his stake in the company through a series of stock purchases. According to a recent SEC filing, Stahl acquired a total of 1,194 shares of RENN Fund common stock on January 3, 2025, at a consistent price of $2.49 per share, near the stock's 52-week high of $2.85. This transaction amounts to a total investment of approximately $2,973. The timing appears strategic, as InvestingPro data shows RCG has delivered an impressive 46% return over the past year, with particularly strong momentum in recent months.
The acquisitions were made both directly and indirectly, with shares being held by entities associated with Stahl, including Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Asset Management LLC, among others. Notably, Stahl also made purchases on behalf of his spouse. The company has shown strong financial performance, with revenue growth of 21.5% in the last twelve months, though InvestingPro analysis indicates some concerns regarding short-term liquidity with a current ratio of 0.16.
After these transactions, Stahl directly owns 49,454 shares, while additional shares are held indirectly through various entities. It's important to note that Stahl disclaims beneficial ownership of the indirectly held shares, except to the extent of his pecuniary interest. With a beta of 0.72, RCG shows lower volatility compared to the broader market. Subscribers to InvestingPro can access additional insights, including 6 key investment tips and detailed valuation metrics.
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