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Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), has increased his stake in the company with a series of purchases totaling $3,558. According to a recent SEC filing, the transactions occurred on May 19, 2025, with shares acquired at a consistent price of $2.70 each. The purchase comes as RCG maintains a strong financial health score of GREAT according to InvestingPro data, with the stock delivering an impressive 71% return over the past year.
Stahl’s acquisitions include direct purchases as well as indirect acquisitions through various entities. The transactions involved the purchase of 356 shares directly, while additional shares were acquired indirectly through entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Hard Assets LLC, among others.
Following these transactions, Stahl’s direct ownership in RENN Fund stands at 81,422 shares, with additional shares held indirectly. While the filing notes that Stahl disclaims beneficial ownership of shares held in indirect accounts, he retains a pecuniary interest in these holdings.
These purchases reflect Stahl’s continued confidence in the company’s prospects, as he consolidates his position in RENN Fund through both direct and indirect channels.
In other recent news, Richardson Wealth reported a robust financial performance for the fourth quarter of 2024, with revenue reaching $96.9 million, marking a 12% increase compared to the same period last year. This growth was driven by a 15% rise in fee revenue and a 20% increase in trading commissions. The company also saw an 80% jump in corporate finance revenue. Richardson Wealth is targeting $50 billion in assets under administration (AUA) and continues to focus on operational improvements and advisor support.
Additionally, the firm has launched new business intelligence tools for advisors as part of its strategic advancements. In terms of recruitment, Richardson Wealth welcomed teams managing $1.8 billion in AUA in 2024 and maintains a strong pipeline of potential advisors. The company is also exploring strategic acquisitions or partnerships to further its growth. Analysts from Cormark Securities and Acumen Capital have shown interest in the firm’s operational strategies and recruitment efforts, reflecting a positive outlook on Richardson Wealth’s strategic direction.
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