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Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), has increased his holdings in the company with a series of purchases on January 22, 2025. According to a recent SEC filing, Stahl acquired a total of 1,198 shares of common stock at a price of $2.85 per share, amounting to a total investment of $3,414. The purchase comes as RCG shows strong momentum, with the stock delivering an impressive 79% return over the past year and trading near its 52-week high of $2.88, according to InvestingPro data.
The transactions reflect a mix of direct and indirect ownership, with shares acquired through various entities including Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Asset Management LLC. Following these transactions, Stahl's direct ownership stands at 53,062 shares, with additional shares held indirectly. While InvestingPro data indicates some short-term liquidity challenges, the company has maintained profitability and achieved 21.5% revenue growth in the last twelve months.
Stahl, who also serves as a director and a ten percent owner of the fund, executed these transactions without any equity swaps involved. The purchases add to his significant stake in the RENN Fund, reinforcing his commitment to the company's future.
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