Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), recently increased his holdings in the company through a series of transactions on December 18, 2024. The insider purchase comes as RCG shows strong momentum, with the stock delivering a remarkable 50% return over the past year and trading near its 52-week high of $2.85. Stahl acquired a total of 1,209 shares of RENN Fund’s common stock at a consistent price of $2.50 per share, amounting to a total investment of $3,022.
The transactions included direct acquisitions as well as indirect purchases through various entities associated with Stahl. These entities include Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Asset Management LLC. The indirect transactions reflect Stahl’s diversified ownership interests, although he disclaims beneficial ownership except to the extent of his pecuniary interest. According to InvestingPro data, the company has demonstrated solid growth with revenue increasing by 21.5% in the last twelve months.
Following these transactions, Stahl’s direct ownership stands at 46,090 shares, while his indirect holdings are distributed across several accounts, as noted in the filings. The acquisitions reflect a continued confidence in the company’s prospects under his leadership. InvestingPro subscribers can access additional insights, including 6 more exclusive ProTips about RCG’s financial health and valuation metrics.
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