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Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), has recently acquired a significant amount of the company’s common stock. According to a recent SEC filing, Stahl purchased a total of 1,276 shares on March 18, 2025, at a price of $2.68 per share, near the stock’s 52-week high of $2.88. This acquisition represents a total investment of approximately $3,419. The purchase comes as RCG has demonstrated strong momentum, with a 71% return over the past year and 34% gain in the last six months. InvestingPro analysis reveals the company’s impressive 30% revenue growth in the last twelve months.
The transactions were spread across various ownership entities, including direct ownership by Stahl and indirect ownership through entities such as Fromex Equity Corp, FRMO Corp, and Horizon Kinetics Asset Management LLC. The largest single purchase was 356 shares under direct ownership.
Following these transactions, Stahl holds a substantial number of shares both directly and indirectly, with the direct holdings alone amounting to 66,114 shares. The filing also notes that Stahl disclaims beneficial ownership of certain indirect holdings, except to the extent of his pecuniary interest.
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 saw notable growth in various revenue streams, including a 15% rise in fee revenue and a significant 80% jump in corporate finance revenue. This performance is part of Richardson Wealth’s strategic focus on operational efficiency and expanding its advisor support. The firm is targeting an ambitious $50 billion in assets under administration, emphasizing recruitment and technology integration as key growth drivers.
In addition to financial results, Richardson Wealth launched new business intelligence tools for advisors to enhance their service offerings. The company is also focused on potential strategic acquisitions or partnerships to further bolster its market position. Looking forward, RF Capital, the parent company of Richardson Wealth, anticipates that declining prime rates might impact interest revenue but remains committed to operational improvements. The company also announced new leadership, with Francis Barajan joining as Chief Financial Officer, bringing his extensive experience in investment and wealth management. These developments underscore Richardson Wealth’s commitment to maintaining its competitive edge in the independent wealth management sector.
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