On May 8, 2025, Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), made several acquisitions of the company’s common stock, totaling approximately $3,432. The purchases were executed at prices ranging from $2.69 to $2.70 per share. The stock has shown remarkable performance, with a 61% return over the past year and an impressive 19% gain year-to-date, according to InvestingPro data.
The transactions involved a series of direct and indirect acquisitions. Directly, Stahl acquired 356 shares at $2.69 each. Indirectly, through various entities including his spouse and companies like Fromex Equity Corp and Horizon Kinetics Asset Management LLC, additional shares were acquired. The indirect transactions reflect Stahl’s broader investment strategy, though he disclaims beneficial ownership except to the extent of his pecuniary interest.
These transactions increase Stahl’s holdings, demonstrating his continued commitment to RENN Fund, Inc. Investors often monitor such insider activities for potential insights into the company’s future performance.
In other recent news, Richardson Wealth reported a strong financial performance for the fourth quarter of 2024, with revenue increasing by 12% year-over-year to $96.9 million. The company noted a 15% rise in fee revenue and a significant 80% jump in corporate finance revenue, driven by higher structured note-related fees. Despite a 19% decline in interest revenue due to decreasing benchmark interest rates, the firm’s overall financial health remains robust. Richardson Wealth aims to reach $50 billion in assets under administration, with a focus on enhancing advisor support and recruitment. The company also introduced new business intelligence tools for advisors, aligning with its strategic focus on growth and innovation. Analyst firms like Cormark Securities and Acumen Capital have been actively engaging with Richardson Wealth, indicating a keen interest in the firm’s operational strategies and recruitment efforts. The company continues to address operational challenges, particularly around service levels, with improvements expected by spring 2025. Richardson Wealth remains committed to maintaining operational efficiency and exploring strategic acquisitions or partnerships for future growth.
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