Horizon Kinetics Acquires Additional RENN Fund Shares
Horizon Kinetics Asset Management increased its stake in RENN Fund by purchasing 756 shares.
Key Points
- Horizon Kinetics Asset Management bought 756 shares of RENN Fund at $2.75 each on June 23, 2026, totaling $2,079.
- RENN Fund shares traded near $2.71 on Wednesday, with a market cap of $19.15 million and a P/E ratio of 24.8.
- Other funds like Horizon Kinetics LLC and Pecaut & Co. adjusted their RENN Fund positions, while Raymond James Financial opened a new stake.
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Horizon Kinetics Asset Management LLC purchased 756 shares of RENN Fund, Inc. (NYSE American: RCG) at an average price of $2.75 per share on June 23, 2026. This transaction was valued at $2,079.
Insider Buying and Selling at RENN Fund, Inc.
Horizon Kinetics Asset Management has been actively buying shares of RENN Fund over the past week. On June 23, they acquired 756 shares at $2.75 each. This follows similar purchases earlier in the week, including 756 shares at $2.78 on June 22 and another 756 shares at $2.83 on June 18. These transactions were not part of a pre-planned trading program.
Other Institutional Activity in RENN Fund
Several institutional investors have adjusted their holdings in RENN Fund recently. Horizon Kinetics Asset Management LLC grew its holdings by 46,116 shares, ending with 912,064 shares valued at approximately $2.99 million, marking a 5.3% increase. Pecaut & Co. also increased its stake by 7,033 shares, resulting in a total of 93,099 shares worth about $305,366, reflecting an 8.2% rise. Conversely, Moors & Cabot, Inc. reduced its position by 3,000 shares, now holding 125,455 shares valued at $411,492, a 2.3% decrease.
RENN Fund, Inc. Stock Down 7.4%
Shares of RENN Fund traded near $2.71 on Wednesday. The company has a market cap of approximately $19.15 million and a P/E ratio of 24.8. With a beta of 0.173, the stock is less volatile than the broader market. RENN Fund's 52-week range is between $2.40 and $3.31, with a 50-day moving average of $2.80 and a 200-day moving average of $2.75.
$RCG stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
RENN Fund reported revenue of $327,469, though revenue growth was down by 46.2%. The company's net margin stands at 2.42%, and return on equity is 4.07%. The next earnings report is expected on March 10, 2025.
Dividend
RENN Fund offers an annual dividend rate of $0.02, yielding 0.76%. The dividend payout ratio is 19.5%.
About RENN Fund
RENN Fund, Inc. is a closed-ended equity mutual fund managed by Horizon Kinetics Asset Management LLC. Based in New York, the fund invests in U.S. public equity markets, focusing on small and mid-cap companies across various sectors. It uses a fundamental analysis approach to build its portfolio. The fund, established on January 20, 1994, was formerly known as RENN Global Entrepreneurs Fund, Inc.
Bottom Line
Horizon Kinetics Asset Management's recent purchase of RENN Fund shares highlights ongoing interest in the fund. Investors often track such insider transactions for potential insights into a company's future. However, it's essential to remember that these filings are historical and may not reflect current positions.
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This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.