Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), made several purchases of the company’s common stock on December 30, 2024. The transactions, detailed in a recent SEC filing, show that Stahl acquired a total of 1,194 shares at a consistent price of $2.34 per share, amounting to an investment of $2,793. The purchase comes as RCG trades near $2.41, within its 52-week range of $1.52 to $2.85, and following a notable 35% gain over the past six months.
These acquisitions include both direct and indirect ownership, with shares being held by various entities associated with Stahl, such as his spouse and several corporations. Notably, Stahl now directly owns 48,470 shares, while other shares are held indirectly through entities like Horizon Kinetics Asset Management LLC and FRMO Corp. The filing emphasizes that Stahl disclaims beneficial ownership of some shares except to the extent of his pecuniary interest. According to InvestingPro, RCG maintains profitability with a 100% gross margin and 21.5% revenue growth, though investors should note current liquidity challenges.
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