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Murray Stahl, the President and CEO of RENN Fund, Inc. (AMEX:RCG), has recently acquired shares of the company's common stock, according to a regulatory filing. On February 13, Stahl purchased a total of 1,436 shares at a consistent price of $2.67 per share, amounting to a total investment of $3,834. The purchase comes as RCG has demonstrated strong performance, with InvestingPro data showing a remarkable 60% return over the past year and revenue growth of 22%.
The transactions reflect direct and indirect acquisitions through various entities associated with Stahl, including his spouse, Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Following these acquisitions, Stahl's direct ownership stands at 58,506 shares, while his indirect holdings are spread across multiple accounts. The stock currently offers a dividend yield of 0.88% and trades near its 52-week high of $2.88.
These purchases indicate an ongoing commitment by Stahl to increase his stake in RENN Fund, a company based in Dallas, Texas. The fund, formerly known as RENN Global Entrepreneurs Fund, Inc., continues to operate under the strategic guidance of Stahl, who is also a significant shareholder. InvestingPro analysis reveals additional insights about RCG's performance and valuation metrics. Subscribers can access 3 more exclusive ProTips and detailed financial analysis.
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