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Murray Stahl, the President and CEO of RENN Fund, Inc. (NYSE:RCG), recently acquired additional shares of the company’s common stock. According to a recent SEC filing, Stahl purchased a total of 1,274 shares on March 4, 2025, at a consistent price of $2.56 per share, amounting to a total investment of $3,261. The purchase comes as RCG has demonstrated strong performance, with InvestingPro data showing a 66% return over the past year and revenue growth of 21.5%.
The transactions were made through various ownership channels, including direct holdings and several indirect entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Post-transaction, Stahl holds 62,554 shares directly, while indirect holdings are spread across different accounts, as noted in the filing. According to InvestingPro, the stock is currently trading near its 52-week high of $2.88, with additional ProTips and detailed analysis available for subscribers.
Stahl’s latest acquisition reflects his ongoing investment in the RENN Fund, further aligning his interests with those of the shareholders. The company maintains a solid earnings profile with basic EPS of $0.16 and a gross profit margin of 100%, as reported by InvestingPro.
In other recent news, Richardson Wealth reported a robust financial performance for the fourth quarter of 2024, with revenue increasing by 12% year-over-year to $96.9 million. The company also saw a 15% rise in fee revenue and a significant 80% increase in corporate finance revenue. This growth is attributed to higher average assets under administration (AUA) and increased trading activity. Additionally, Richardson Wealth aims to achieve $50 billion in AUA, supported by strategic advancements in technology and advisor support. The company continues to focus on operational efficiency, although interest revenue is expected to be impacted by declining prime rates. In terms of analyst coverage, Richardson Wealth’s strategic direction and growth potential were discussed, highlighting the company’s efforts to enhance recruitment and partnerships. CEO Dave Kelly emphasized the importance of financial planning and the company’s commitment to becoming a leading independent wealth management firm in Canada.
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