Renn fund president and CEO Murray Stahl acquires $3,325 in stock

NEW YORK — Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), made several purchases of the company’s common stock on March 6, 2025, according to a recent SEC filing. Stahl acquired a total of 1,274 shares at a price of $2.61 per share, amounting to a total value of approximately $3,325. The purchase comes as RCG shows strong momentum, with InvestingPro data revealing a 61% return over the past year and a 33% gain in the last six months.

The transactions were part of a series of acquisitions involving both direct and indirect holdings. The shares were acquired through various entities, including personal accounts and corporations such as Fromex Equity Corp, FRMO Corp, and Horizon Kinetics Asset Management LLC. Notably, the SEC filing highlighted that Stahl disclaims beneficial ownership for indirect accounts except to the extent of his pecuniary interest. According to InvestingPro, RCG maintains a relatively stable market position with a beta of 0.78 and has achieved 21.5% revenue growth in the last twelve months.

This activity increases Stahl’s direct ownership to 63,266 shares, while the indirect holdings include shares held by his spouse and various investment entities. These transactions demonstrate continued confidence in the company’s prospects by its top executive. InvestingPro analysis reveals additional insights about RCG’s performance and valuation through its comprehensive research reports, available along with 5+ ProTips for subscribers.

In other recent news, Richardson Wealth reported a 12% increase in revenue for the fourth quarter of 2024, amounting to $96.9 million. The company also saw a notable rise in fee revenue by 15% and trading commissions by 20%, reflecting higher trading activity. Corporate finance revenue experienced a significant jump of 80%, although interest revenue decreased due to declining benchmark interest rates. Richardson Wealth is targeting $50 billion in assets under administration (AUA), building on the $39.5 billion achieved by the end of 2024. The firm is focusing on operational efficiency and technology integration to support future growth. CEO Dave Kelly emphasized the company’s strategic direction, highlighting the importance of advisor support and recruitment. Additionally, the company welcomed new teams in 2024, managing $1.8 billion in AUA, and continues to maintain a robust recruitment pipeline. Richardson Wealth also aims to explore strategic acquisitions or partnerships to further its growth objectives.

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