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Murray Stahl, the President and CEO of RENN Fund, Inc. (NYSE:RCG), recently acquired a total of $3,452 worth of common stock, according to a recent SEC filing. The transactions took place on March 14, 2025, with the shares purchased at a consistent price of $2.71 each. This insider purchase comes as RCG shows strong momentum, with InvestingPro data revealing a 70% return over the past year and an impressive 41.5% gain in the last six months.
The acquisitions were made through various accounts, including those held directly by Mr. Stahl and indirectly through entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Notably, Mr. Stahl disclaims beneficial ownership of the shares held indirectly, except for any pecuniary interest he might have.
Following these transactions, Mr. Stahl’s direct ownership stands at 65,402 shares, while his indirect holdings are distributed across several accounts, as detailed in the filing.
In other recent news, Richardson Wealth reported a robust financial performance for the fourth quarter of 2024, with revenue increasing by 12% year-over-year to $96.9 million. The company experienced a 15% rise in fee revenue and a notable 20% increase in trading commissions. Corporate finance revenue surged by 80%, although interest revenue saw a decline of 19% due to lower benchmark interest rates. Richardson Wealth aims to reach $50 billion in assets under administration, focusing on operational efficiency and advisor support. The company also launched new business intelligence tools to enhance advisor capabilities. Strategic acquisitions or partnerships remain a potential avenue for growth as Richardson Wealth continues to expand its recruitment pipeline. In terms of analyst perspectives, firms like Cormark Securities have engaged with the company regarding operational improvements and recruitment strategies.
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