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Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), has recently increased his stake in the company, acquiring a total of 1,216 shares of common stock. The transactions, executed on January 28, 2025, were completed at a price of $2.86 per share, amounting to a total value of $3,477. The purchase comes as RCG trades near its 52-week high of $2.88, having delivered an impressive 70% return over the past year. InvestingPro data reveals the stock has maintained strong momentum with a 61% gain in the last six months.
The purchases were made across several accounts, including direct holdings and various indirect accounts associated with entities such as Fromex Equity Corp, FRMO Corp, and Horizon Kinetics Asset Management LLC. Notably, Stahl’s direct ownership now stands at 54,374 shares, while additional shares are held indirectly through different entities.
According to the filing, Stahl disclaims beneficial ownership of the shares held in indirect accounts, except to the extent of his pecuniary interest. This recent acquisition reflects his continued confidence in the company’s prospects.
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