RENN Fund, Inc. (NYSE:RCG) reported that its President and CEO, Murray Stahl, has recently increased his stake in the company through a series of stock purchases. On May 6, 2024, Stahl acquired a total of 59 shares of RENN Fund’s common stock at a uniform price of $1.58 per share, amounting to a total investment of $93.
The transactions were part of Stahl’s routine stock trading activities and were disclosed in a recent filing with the Securities and Exchange Commission. Following these purchases, Stahl’s direct holdings in RENN Fund have grown, reflecting his ongoing commitment to the company. In addition to the shares he owns directly, Stahl also has indirect interests through several entities, including FROMEX Equity Corp, FRMO Corp, and Horizon Common Inc.
The indirect holdings mentioned in the filing are significant, with the largest being 243,608 shares held through FRMO Corp. Stahl’s indirect stakes also include 247,690 shares through Horizon Common Inc., 60,929 shares through FROMEX Equity Corp, and smaller amounts held by his spouse and Horizon Kinetics Asset Management LLC. It’s important to note that Stahl disclaims beneficial ownership of these indirect shares except to the extent of his pecuniary interest, if any.
Investors often monitor insider transactions like these as they can provide insights into executives’ perspectives on the company’s value and future prospects. Stahl’s recent purchases could be interpreted as a sign of confidence in RENN Fund’s performance and potential for growth.
RENN Fund, Inc. is a publicly-traded investment fund with a focus on value-oriented investments, and its stock is listed on the New York Stock Exchange under the ticker symbol RCG.
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InvestingPro Insights
Following the news of RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl’s recent investment in the company’s stock, a closer look at the financials through InvestingPro reveals some key metrics that may interest investors. The company has reported a revenue of $0.29 million in the last twelve months as of Q4 2023, with a notable revenue growth of 27.92% during the same period. The quarterly revenue growth also stands strong at 26.26% for Q1 2023. This indicates a positive trajectory in RENN Fund’s revenue generation capabilities.
Additionally, the company has maintained a gross profit margin of 100% in the last twelve months as of Q4 2023, which suggests…
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