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Murray Stahl, the President and CEO of RENN Fund, Inc. (NYSE:RCG), recently acquired a significant amount of the company's common stock. According to a filing with the Securities and Exchange Commission, Stahl purchased a total of 1,238 shares on December 3, 2024, at a price of $2.69 per share, amounting to an investment of approximately $3,330. The purchase comes as RCG trades near its 52-week high of $2.85, with the stock showing remarkable strength, up about 61% over the past year. InvestingPro data reveals the company has achieved 21.5% revenue growth in the last twelve months.
The transactions included both direct and indirect acquisitions. Directly, Stahl added 354 shares to his holdings, bringing his personal total to 42,160 shares. Indirectly, through various entities and accounts, he acquired additional shares: 4 shares attributed to his spouse, 180 shares via Fromex Equity Corp, 180 shares through FRMO Corp, 230 shares through Horizon Common Inc., 84 shares via Horizon Kinetics Hard Assets LLC, and 206 shares through Horizon Kinetics Asset Management LLC.
The filing also notes that Stahl disclaims beneficial ownership of shares held in indirect accounts, except to the extent of his pecuniary interest. These acquisitions reflect his continued investment in RENN Fund, Inc., a Dallas-based company.
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