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Murray Stahl, the President and CEO of RENN Fund, Inc. (NYSE:RCG), has acquired additional shares in the company, according to a recent SEC filing. On February 4, 2025, Stahl purchased a total of 1,240 shares of common stock at a consistent price of $2.80 per share, near the stock’s 52-week high of $2.88. This acquisition amounts to a total value of $3,471, coming amid the fund’s impressive 69% return over the past year.
The transactions include both direct and indirect ownership. Directly, Stahl acquired 328 shares, while the remaining shares were acquired indirectly through various entities and personal accounts. Notably, 180 shares were acquired through Fromex Equity Corp, 180 shares through FRMO Corp, 272 shares through Horizon Common Inc., 18 shares through Horizon Kinetics Hard Assets LLC, and 254 shares through Horizon Kinetics Asset Management LLC. Additionally, 8 shares were acquired in a personal capacity via a spousal account. According to InvestingPro data, the fund faces liquidity challenges with a current ratio of 0.16, indicating potential short-term financial constraints.
These transactions increase Stahl’s direct ownership to 56,018 shares, while his indirect holdings vary across different entities. It is noted that Stahl disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest. The fund maintains relatively low market volatility with a beta of 0.74.
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