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Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), recently reported a series of stock acquisitions amounting to $3,185, according to a recent SEC filing. On April 15, Stahl acquired a total of 1,274 shares of RENN Fund’s common stock at a consistent price of $2.50 per share, near the middle of its 52-week range of $1.57 to $2.88. The fund has delivered impressive returns, with a 55.69% gain over the past year and revenue growth of nearly 30%.
The transactions reflect purchases made both directly and indirectly through various entities. Direct ownership saw an increase of 356 shares, while indirect acquisitions included shares held by his spouse and several entities associated with Stahl, such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. InvestingPro analysis reveals the fund maintains a basic EPS of $0.79 and offers a dividend yield of 0.92%.
These acquisitions bring Stahl’s direct ownership to 73,234 shares, with additional shares held indirectly across different accounts. The filings note that Stahl disclaims beneficial ownership of the indirectly held shares except for his pecuniary interest. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro subscribers can access detailed research reports covering 1,400+ US stocks.
In other recent news, Richardson Wealth reported a robust financial performance for the fourth quarter of 2024, with a 12% increase in revenue year-over-year, reaching $96.9 million. The company also saw a 15% rise in fee revenue and a notable 80% increase in corporate finance revenue. Trading commissions grew by 20%, although interest revenue experienced a decline of 19% due to falling benchmark interest rates. The firm aims to achieve $50 billion in assets under administration, emphasizing operational improvements and cost management. CEO Dave Kelly highlighted the company’s strategic focus on enhancing advisor support and recruitment. Richardson Wealth has also launched new business intelligence tools for advisors as part of its growth strategy. Additionally, the company is considering strategic acquisitions or partnerships to further expand its market presence.
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