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RENN Fund CEO Stahl buys shares worth $94

Published 04/03/2024, 11:57 AM
Updated 04/03/2024, 11:57 AM

In a recent transaction, Murray Stahl, President and CEO of RENN Fund, Inc. (NYSEAMERICAN:RCG), purchased additional shares of the company, signaling a vote of confidence in the fund's prospects. The series of transactions, all executed on April 2nd, 2024, involved the acquisition of common stock at a uniform price of $1.61 per share.

The total investment made by Stahl amounted to $94, distributed across several purchases that included both direct and indirect holdings. Specifically, Stahl directly added 4 shares to his existing stake, bringing his direct ownership to 4,980 shares. Additionally, purchases were made for accounts indirectly related to him, including those of his spouse, FROMEX Equity Corp, FRMO Corp, and Horizon Common Inc. These indirect transactions contributed to a significant portion of the total shares acquired.

It is noteworthy that for the indirect accounts, Stahl has disclaimed beneficial ownership, except to the extent of his pecuniary interest, if any. The reported figures do not include the 4,980 shares held directly by Stahl.

The transactions are part of a Form 4 filing with the Securities and Exchange Commission, which provides public disclosure of insider trades. Such filings offer investors a glimpse into the actions of company executives and can be indicative of their outlook on the company's financial health and future performance.

RENN Fund, Inc., headquartered in Dallas, Texas, is an investment company that has undergone several name changes in its history, previously known as RENN Global Entrepreneurs Fund, Inc. and Renaissance Capital Growth & Income Fund III Inc. The fund operates under the investment management expertise of Horizon Kinetics LLC, where Stahl also serves in a leadership role.

InvestingPro Insights

As RENN Fund, Inc. (NYSEAMERICAN: RCG) attracts attention with insider transactions, real-time data from InvestingPro provides additional context into the company's financials. The latest metrics reveal a revenue growth of 27.92% in the last twelve months as of Q4 2023, which is echoed by a quarterly increase of 26.26% in the same period. These figures indicate an upward trajectory in RCG's earnings, potentially validating the confidence displayed by Murray Stahl's recent share purchases.

The company's gross profit mirrors its revenue at $0.29 million, with an impressive gross profit margin of 100% in the last twelve months as of Q4 2023. Despite these positive indicators, RCG's basic and diluted EPS (Earnings Per Share) from continuing operations stand at -$0.13, suggesting that profitability remains an area of challenge for the fund.

InvestingPro Tips for RCG highlight some concerns, noting that the company's short-term obligations exceed its liquid assets, which may raise questions about its immediate financial stability. Additionally, a valuation that implies a poor free cash flow yield and the fact that the company has not been profitable over the last twelve months could be points of consideration for investors.

For those interested in gaining a deeper understanding of RCG's financial health and prospects, more InvestingPro Tips are available. By visiting https://www.investing.com/pro/RCG, investors can access a comprehensive analysis, and using the coupon code PRONEWS24, they can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are several additional InvestingPro Tips listed for RCG, offering investors nuanced insights into the company's performance and potential investment strategies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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