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Murray Stahl, the President and CEO of RENN Fund, Inc. (NYSE:RCG), recently acquired shares of the company, according to a recent SEC filing. On April 11, Stahl purchased a total of 1,274 shares of RENN Fund common stock at a price of $2.32 per share. This acquisition amounted to a total value of approximately $2,955. The timing appears strategic, as RCG has shown strong momentum with a 58.65% return over the past year and an 8.23% gain in the past week.
The transactions included both direct and indirect ownership through various entities associated with Stahl, such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Following these transactions, Stahl now directly owns 72,522 shares, while additional shares are held indirectly through these entities.
These acquisitions reflect Stahl’s continued investment in RENN Fund, Inc., a company known for its diversified portfolio and strategic investments.
In other recent news, Richardson Wealth reported a notable financial performance for the fourth quarter of 2024, with revenue increasing by 12% year-over-year to $96.9 million. The company saw a 15% rise in fee revenue and a 20% increase in trading commissions, while corporate finance revenue surged by 80%. However, interest revenue declined by 19% due to lower benchmark interest rates. The firm continues to target $50 billion in assets under administration (AUA) and is focused on enhancing advisor support and recruitment. Richardson Wealth’s strategic direction includes potential acquisitions or partnerships to drive growth. The company also launched new business intelligence tools for advisors, reflecting its commitment to technology integration. Analysts have not provided any recent upgrades or downgrades for Richardson Wealth, but the firm remains dedicated to maintaining operational efficiency amidst economic challenges.
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