Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), recently acquired shares in the company, according to a filing with the Securities and Exchange Commission. On January 17, 2025, Stahl purchased a total of 1,198 shares of RENN Fund's common stock at $2.69 per share, amounting to approximately $3,222. The purchase comes as RCG shows strong momentum, with the stock up 66% over the past year and trading near its 52-week high of $2.85. InvestingPro data reveals the fund has achieved impressive revenue growth of 21.5% in the last twelve months.
The acquisitions were made across various accounts, including direct ownership and indirect ownership through entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Hard Assets LLC. These transactions reflect an increase in Stahl's holdings in the company, with a significant portion of the shares held indirectly. According to InvestingPro analysis, while the fund shows strong price momentum with a 49% gain over the past six months, investors should note its current ratio of 0.16 indicates potential liquidity challenges. For comprehensive insider trading patterns and additional insights, subscribers can access more than 5 exclusive ProTips.
Stahl's direct ownership following these transactions stands at 52,406 shares, while the indirect ownership is spread across several accounts, with the largest being 280,474 shares under Horizon Common Inc. It is noted that Stahl disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
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