In a recent transaction, Murray Stahl, the President and CEO of RENN Fund, Inc. (NYSE:RCG), acquired a total of $2,844 worth of common stock. The purchases, made on November 12, 2024, involved several transactions, all executed at a price of $2.32 per share.
Stahl's acquisitions included direct ownership of 342 shares, adding to his existing holdings, which now total 37,284 shares. Additionally, shares were acquired indirectly through various entities, including his spouse, Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC.
These transactions reflect Stahl's continued investment in RENN Fund, Inc., with indirect holdings across multiple entities. It's noted in the filings that Stahl disclaims beneficial ownership in these indirect accounts, except to the extent of his pecuniary interest.
InvestingPro Insights
Adding to the recent stock acquisition by Murray Stahl, RENN Fund, Inc. (NYSE:RCG) has demonstrated strong financial performance in recent periods. According to InvestingPro data, the company's revenue growth stands at an impressive 21.53% over the last twelve months as of Q2 2024, with quarterly revenue growth at 17.49% in Q2 2024. This robust growth aligns with Stahl's decision to increase his stake in the company.
InvestingPro Tips highlight that RCG has been profitable over the last twelve months, which could be a factor in Stahl's investment decision. Additionally, the stock has shown a strong return over the last three months, with InvestingPro data revealing a 30.69% price total return over this period. This short-term performance is part of a larger trend, as the stock has seen a substantial 40.98% price total return over the past six months.
However, potential investors should note that InvestingPro Tips also indicate that RCG's short-term obligations exceed its liquid assets, which could present challenges in the near future. For a more comprehensive analysis, InvestingPro offers 5 additional tips for RCG, providing deeper insights into the company's financial health and market position.
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