Horizon Kinetics Adds to RENN Fund, Inc. Holdings

Horizon Kinetics Asset Management LLC recently increased its stake in RENN Fund, Inc. (NYSE American: RCG) by purchasing 756 shares on June 18. This transaction was valued at $2,139.48, with an average price of $2.83 per share. The purchase was not part of a prearranged trading plan.

What Changed in Horizon Kinetics' RENN Fund, Inc. Position

Horizon Kinetics Asset Management LLC bought 756 additional shares of RENN Fund, Inc. This move reflects a strategic decision to increase their holding, although the specific percentage change in their overall position was not provided.

Other Institutional Activity in RENN Fund, Inc.

In recent activity involving RENN Fund, Inc., Horizon Kinetics Asset Management LLC grew its holdings by 46,116 shares, ending with 912,064 shares valued at about $2.99 million, marking a 5.3% increase. Moors & Cabot, Inc. reduced its position by 3,000 shares to 125,455 shares, valued at approximately $411,492, a decrease of 2.3%. Pecaut & Co. also increased its holdings by 7,033 shares to 93,099 shares, worth around $305,366, recording an 8.2% increase. Meanwhile, Osaic Holdings, Inc. slightly reduced its stake by 350 shares, and Morgan Stanley cut its position by 5,208 shares, representing a 10.6% decrease.

RENN Fund, Inc. Stock Down 7.5%

Shares of NYSE American:RCG traded near $2.81 on Monday. RENN Fund, Inc. has a market capitalization of approximately $19.7 million and a P/E ratio of 25.5, with a beta of 0.173. The stock's 52-week range is between $2.40 and $3.31. It has a 50-day moving average of $2.80 and a 200-day moving average of $2.74. The company's current ratio is 0.398, and the quick ratio is 0.205.

Recent Earnings

RENN Fund, Inc. reported revenue of $327,469, although it experienced a decline in revenue growth by 46.2%. The fund's net margin stands at 2.42%, and its return on equity is 4.07%. The next earnings report is expected on March 10, 2025.

Dividend

RENN Fund, Inc. offers an annual dividend rate of $0.02, yielding 0.76% with a payout ratio of 19.5%.

Insider Buying and Selling at RENN Fund, Inc.

Horizon Kinetics Asset Management LLC was active in buying shares of RENN Fund, Inc. throughout mid-June. On June 18, it purchased 756 shares at $2.83 per share. Similar transactions occurred on June 17 at $2.85, June 16 at $2.74, June 15 at $2.85, June 12 at $2.75, and June 11 at $2.75. All purchases were made without a prearranged plan.

About RENN Fund, Inc.

RENN Fund, Inc. is a closed-ended equity mutual fund based in New York, NY. The fund is co-managed by Horizon Kinetics Asset Management LLC and aims to invest in U.S. public equity markets, focusing on small-cap and mid-cap companies across various sectors. It uses a fundamental analysis approach to build its portfolio. The fund was established on January 20, 1994, and is led by CEO Z. Eric Stephens, CFA.

Bottom Line

Horizon Kinetics Asset Management's recent purchase of RENN Fund, Inc. shares highlights its strategic interest in the asset management sector. With a market cap of $19.7 million and a P/E ratio of 25.5, the fund offers a unique investment profile. Investors should note that insider transactions like these are disclosed after the fact and may not reflect current positions.