RENN Fund CEO Stahl buys $2,607 worth of Investing.com shares

In a recent transaction, Murray Stahl, President and CEO of RENN Fund, Inc. (NYSEAMERICAN:RCG), increased its holdings in the company by buying shares valued at a total of $2,607. The transaction, which took place on September 20, 2024, involved the purchase of shares at a price of $2.05 each.

Stahl’s purchase reflects his continued commitment to the company as he directly purchased 390 shares, adding to his already significant stake. Additionally, same-day trades for accounts indirectly related to Stahl, including those held by her husband and various entities, were executed at the same price per share. These indirect purchases totaled 902 shares in accounts associated with FROMEX EQUITY CORP, FRMO CORP, Horizon Common Inc., Horizon Kinetics Hard Assets LLC and HORIZON KINETICS ASSET MANAGEMENT LLC.

Following these transactions, Stahl’s direct ownership of RENN Fund, Inc. reached 24,298 shares. It should be noted that for shares held indirectly, Stahl disclaims beneficial ownership except for his pecuniary interest, if any. This disclaimer also applies to the 564 shares held by her husband and larger holdings by the named entities, which include 68,807 shares of FROMEX EQUITY CORP, 254,060 shares of FRMO CORP, 261,556 shares of Horizon Common Inc., 1,270 shares of Horizon Hards. Assets LLC and 9,022 shares of HORIZON KINETICS ASSET MANAGEMENT LLC.

The transactions were publicly reported in a filing with the Securities and Exchange Commission, with attorney Jay Kesslen signing on behalf of Stahl on September 23, 2024. Investors and market watchers often view insider purchases as a signal of confidence. in the future perspectives and in the evaluation of the company.

In other recent news, Horizon Kinetics Holding Corp, formerly Scott’s Liquid Gold-Inc., has undergone a number of significant corporate transformations. Recent company developments include a merger, a reverse stock split and a change in state incorporation. Through a merger with Horizon Kinetics, LLC and its subsidiary HKNY One, LLC, the company expanded its capital base by issuing nearly 18 million new shares, diluting existing shareholders to a 3.5% holding.

Concurrent with the merger, Horizon Kinetics executed a 1-for-20 reverse stock split, reducing the number of shares outstanding. As part of a larger reorganization, the company reincorporated from Colorado to Delaware, adopted new articles of incorporation and changed its name to Horizon Kinetics Holding Corp. The company’s main executive offices were also moved to New York.

The reorganization and merger resulted in a change in control, with significant stakes now held by members of Horizon Kinetics. The board underwent a major reshuffle, with six new members appointed and leadership changes accompanying the board restructuring. These recent developments are part of the ongoing corporate overhaul of Horizon Kinetics.

InvestingPro Insights

Recent trades by Murray Stahl in RENN Fund, Inc. (NYSEAMERICAN:RCG) signals a vote of confidence in the company’s trajectory. Supporting this outlook are key metrics from InvestingPro that provide a broader view of RCG’s financial health and market performance. Despite concerns that short-term liabilities outweigh liquid assets, which can pose a liquidity risk, RCG has demonstrated strong performance over the past three months, with a total price return of 24.1% and a six-month total price return months and more impressive than 28.75. %. This increase in share price aligns with Stahl’s increased investment and may indicate positive market sentiment.

From a financial point of view, RENN Fund, Inc. posted a healthy revenue growth of 21.53% over the past twelve months from Q2 2024, with a quarterly growth rate of 17.49%. This growth is reflected in the company’s gross profit, which was $0.31 million, with an outstanding gross profit margin of 100%. These numbers demonstrate the company’s ability to not only grow its revenue, but also maintain profitable operations.

InvestingPro Tips further discloses that RENN Fund, Inc. is profitable for the last twelve months, which is a critical indicator of the company’s financial stability. However, potential investors should be aware of the valuation implications, as the current valuation implies a low free cash flow yield, suggesting that the stock price may factor in optimistic future cash flows. For those looking to delve deeper into RCG’s financial and market performance, InvestingPro offers additional advice to help inform investment decisions.

To explore this information in more detail and access the full set of InvestingPro tips for RENN Fund, Inc., visit https://www.investing.com/pro/RCG. There are currently a total of five InvestingPro tips available for RCG, providing comprehensive analysis for investors and market enthusiasts.

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