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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 took place on March 14, 2024, with Stahl purchasing a total of $91 worth of stock at a price of $1.60 per share.
As part of the purchase, Mr. Stahl directly purchased two shares, increasing his direct holding to 4,954 shares. In addition, through indirect ownership, one share was acquired in the name of Stahl’s spouse and six shares were purchased by his FROMEX EQUITY CORP. However, Stahl disclaims his beneficial ownership unless there is a financial interest. Additionally, 24 shares were acquired by both FRMO CORP and HORIZON COMMON INC. It is important to note that these numbers do not include the 4,954 shares held directly by Mr. Stahl.
The total stock held by Stahl and its affiliates after these transactions represents a significant holding in the company. This transaction confirms the CEO’s continued investment in the RENN Fund and reflects the company’s commitment to the future.
Investors often monitor insider buying and selling because they can learn how management views a company’s stock price and prospects. Murray Stahl’s recent acquisitions could be seen as a positive sign by the market, as insider purchases can signal confidence in a company’s performance and prospects.
RENN Fund, Inc. is an exchange traded fund whose shares are traded on the New York Stock Exchange under the ticker symbol RCG.
Investment Pro Insights
As RENN Fund President and CEO Murray Stahl increases his stake in the company, a glance at InvestingPro’s latest financial metrics provides broader context for investors considering the company’s prospects. RENN Fund’s revenue has shown notable growth over the last year, increasing by 27.92% in the past 12 months as of Q4 2023. This upward trend is also evident on a quarterly basis, with an increase of 26.26% in Q4 2023 alone.
Despite this increase in revenue, a look at additional InvestingPro data reveals challenges for RENN Fund. The company’s gross margin for the period was an impressive 100%, but it doesn’t reflect profitability as it hasn’t made a profit in the last 12 months. Additionally, basic and diluted earnings per share (EPS) from continuing operations was reported at -$0.13.
InvestingPro Tips highlights two key areas of concern for RENN Fund. First, the company’s short-term debt currently exceeds its liquid assets, potentially creating liquidity risk. Second, this valuation suggests a low free cash flow yield, suggesting that investors may not be getting the optimal return on their investment.
These insights can be very important for investors interested in insider buying activity and considering a company’s financial health. Additional InvestingPro Tips can provide a more detailed analysis of the RENN Fund. Interested readers can access it through InvestingPro.For even more savings, use coupon code pro news 24 Save an additional 10% on annual or biennial Pro and Pro+ subscriptions. This includes a total of 3 additional of his InvestingPro tips for RENN funds.
This article was generated with the help of AI and reviewed by an editor. Please see our Terms of Use for more information.
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