Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), recently acquired a total of 1,350 shares of the company's common stock. The purchases, made on November 21, 2024, were at a consistent price of $2.37 per share, amounting to a total investment of $3,199.
The transactions were spread across various accounts, with 446 shares acquired directly by Mr. Stahl. The remaining shares were purchased indirectly through entities including Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Additionally, 24 shares were acquired through Mr. Stahl’s spouse.
Following these transactions, Mr. Stahl's direct holdings in RENN Fund amount to 39,702 shares. Indirectly, he holds various shares across different entities, although he disclaims beneficial ownership beyond his pecuniary interest.
InvestingPro Insights
Recent financial data from InvestingPro sheds light on RENN Fund's performance, providing context to Murray Stahl's recent share acquisitions. The company has shown strong revenue growth, with a 21.53% increase in the last twelve months as of Q2 2024, reaching $0.31 million. This growth trend is further supported by a 17.49% quarterly revenue increase in Q2 2024.
RENN Fund's profitability is noteworthy, with an impressive 100% gross profit margin in the last twelve months. This aligns with one of the InvestingPro Tips, which indicates that the company has been profitable over the last twelve months. Additionally, the basic and diluted EPS (Continuing Operations) both stand at $0.16, suggesting positive earnings performance.
The market seems to be responding positively to RENN Fund's performance. InvestingPro data shows a robust 28.3% price total return over the past three months, and an even more impressive 48.12% return over six months. This aligns with another InvestingPro Tip highlighting the company's strong return over the last three months and the large price uptick over the last six months.
These metrics provide valuable context to Mr. Stahl's recent share purchases, suggesting confidence in the company's financial health and market performance. For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights on RENN Fund. Currently, there are 5 additional tips available on the InvestingPro platform, which could provide further depth to understanding the company's position and potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.