Murray Stahl, the President and CEO of RENN Fund, Inc. (NYSE:RCG), recently expanded his holdings in the company through a series of stock acquisitions. According to a Form 4 filing with the Securities and Exchange Commission, Stahl purchased a total of 1,164 shares of RENN Fund common stock on December 13th, 2024, at a consistent price of $2.52 per share, amounting to a total investment of approximately $2,933. The purchase price sits well above the 52-week low of $1.52, with the stock showing remarkable strength through a 47% gain year-to-date, according to InvestingPro data.
The transactions involved both direct and indirect acquisitions. Directly, Stahl acquired 358 shares, increasing his personal holdings to 45,000 shares. Indirect acquisitions were made through various entities, including shares held by his spouse, Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. InvestingPro analysis reveals the fund has maintained strong revenue growth of 21.5% in the last twelve months, though investors should note its current ratio of 0.16 indicates potential liquidity challenges.
The transactions highlight continued confidence in the company's prospects by its top executive, reflecting a strategic move to bolster his stake in the fund. With a significant 46% price uptick over the past six months, InvestingPro subscribers can access additional insights and 5 more exclusive ProTips to better understand this momentum.
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