RENN fund president and CEO acquires $4,177 in company stock

In a recent transaction, Murray Stahl, President and CEO of RENN Fund, Inc. (NYSE:RCG), acquired additional shares of the company's common stock. The transaction, which took place on September 23, 2024, involved the purchase of RENN Fund shares at a price of $2.05 each, totaling an investment of $4,177.

Stahl's purchase reflects a continued commitment to the company, with the acquisition increasing his direct and indirect holdings in RENN Fund. The shares were bought directly as well as through accounts related to Stahl's spouse, FROMEX Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC.

Following the recent buy, Stahl's direct ownership in RENN Fund has reached 24,700 shares. Additionally, the transaction did not include all indirect holdings, as Stahl disclaims beneficial ownership of certain shares held indirectly, except to the extent of his pecuniary interest.

This latest acquisition by a top executive at RENN Fund, Inc. is part of the routine financial disclosures made by company insiders. Investors often monitor these transactions as they can provide insights into the confidence that company leaders have in the firm's prospects.

The reported transaction was signed off by attorney-in-fact Jay Kesslen on September 24, 2024.



In other recent news, Horizon Kinetics Holding Corp, previously known as Scott's Liquid Gold-Inc., has undergone a significant corporate transformation. The company has completed a merger with Horizon Kinetics, LLC, and its wholly owned subsidiary HKNY One, LLC, issuing 17,984,253 new shares and expanding its equity base. This series of events has reshaped the company's structure and shareholder base.

The merger led to a 1-for-20 reverse stock split, reducing the number of shares outstanding while increasing the per-share value of the remaining stock. As part of a broader reorganization, the company also changed its state of incorporation from Colorado to Delaware, adopted new bylaws, and relocated its principal executive offices to New York, New York.

These recent developments resulted in a change of control, with significant stakes now held by Horizon Kinetics members. Directors Murray Stahl, Steven Bregman, and Peter Doyle, along with Horizon Common Inc. and John Meditz, now own substantial portions of the company's common stock.

The company's board of directors saw a major reshuffle, with six new members appointed, including Stahl, Bregman, and Doyle. Additionally, the board named Stahl as Chairman and is expected to announce committee appointments soon. The management team also saw changes, with new executive officers appointed, including Stahl as Chief Executive Officer and Chief Investment Officer, Bregman as President, and Doyle as Vice President.
InvestingPro Insights


The recent insider buying activity by Murray Stahl, the President and CEO of RENN Fund, Inc. (NYSE:RCG), underscores his confidence in the company's performance and future prospects. Complementing this transaction are several metrics and insights from InvestingPro that can provide investors with a broader understanding of the company's financial health and performance.

Firstly, RENN Fund's revenue growth has been positive, with a 21.53% increase over the last twelve months as of Q2 2024, and a 17.49% quarterly revenue growth in Q2 2024. This suggests an upward trajectory in the company's ability to generate income. Moreover, the gross profit for the same period stands at $0.31 million, with an impressive gross profit margin of 100%, indicating that the company is effectively managing its cost of goods sold and has a strong pricing strategy.

From an investment standpoint, one of the InvestingPro Tips highlights a significant price uptick, with RENN Fund experiencing a 27.5% total return over the last six months and a 21.43% total return over the last three months. This aligns with the CEO's recent share purchase, potentially signaling market optimism and a bullish outlook for the stock.

However, potential investors should be aware of certain risks. According to InvestingPro Tips, RENN Fund's short-term obligations exceed its liquid assets, which could pose liquidity challenges. Additionally, the valuation implies a poor free cash flow yield, suggesting that the company's current market price may not be supported by the cash being generated.

For those interested in a deeper analysis, InvestingPro offers additional tips on RENN Fund, Inc. that can provide more nuanced investment insights. Visit InvestingPro for RENN Fund, Inc. to explore these tips and make more informed investment decisions.

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Source: Investing.com