Murray Stahl, who serves as President and Co-Portfolio Manager of RENN Fund, Inc. (EXCHANGE: RCG), recorded insider purchases of the fund's common stock on February 23, 2026. The filing shows a total of 1,134 shares were acquired at a per-share price of $2.87, producing a combined purchase amount of $3,254.
The reporting breaks the transaction down between direct and indirect purchases. Stahl's direct acquisition accounted for 360 shares. Indirect purchases associated with him were carried out through a number of entities: 18 shares via his spouse, 180 shares through Fromex Equity Corp., another 180 shares via FRMO Corp., 296 shares through Horizon Common Inc., 18 shares via Horizon Kinetics Hard Assets LLC, and 82 shares through Horizon Kinetics Asset Management LLC.
Following the February 23 trades, Stahl's direct ownership in RENN Fund stands at 149,894 shares. The filing also notes he holds additional indirect positions through the listed entities, while disclaiming beneficial ownership except to the extent of his pecuniary interest.
Market context included in the disclosure shows RCG trading at $2.90, a level described as near the stock's 52-week high of $2.88. The filing reports that shares have produced an 11% return year-to-date. Supplemental data from InvestingPro highlighted in the report indicates RCG carries a price-to-earnings ratio of 5.54 and remained profitable over the last twelve months. The InvestingPro platform is also noted as offering three additional "ProTips" for investors seeking further insight into RCG.
The filing provides a clear ledger of who acquired the indirect holdings and the number of shares attributed to each affiliated party, while Stahl's disclaimer of beneficial ownership is included verbatim in the disclosure. No additional commentary or forward-looking statements are included in the regulatory filing.
Contextual note - The transaction is factual and limited to the data disclosed in the insider filing. The report does not include further analysis or commentary beyond the numbers and statements provided in that filing and the brief InvestingPro metrics referenced.