Sunday, June 26, 2022

President and CEO STAHL MURRAY bought 675 shares of RENN Fund Inc. [RCG]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. RENN Fund Inc. shares valued at $1,546 were purchased by STAHL MURRAY on Jun 21. At $2.29 per share, STAHL MURRAY acquired 675 shares. The insider’s holdings grew to 170,908 shares worth approximately $0.38 million following the completion of this transaction.

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Also, STAHL MURRAY purchased 2 shares, netting a total of over 5 in proceeds. Following the buying of shares at $2.29 each, the insider now holds 3,354 shares.

Before that, STAHL MURRAY had added 675 shares to its account. In a trade valued at $1,546, the President and CEO bought RENN Fund Inc. shares for $2.29 each. Upon closing the transaction, the insider’s holdings increased to 675 shares, worth approximately $0.38 million.

As published in a research note from Citigroup on May 23, 2022, Corning Incorporated [GLW] has been rated down from a Buy to a Neutral and the price target has been revised to $37 from $46. This represents a 14.73% premium over Wednesday’s closing price. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid May. As of January 28, 2022, Susquehanna has increased its “Neutral” rating to a “Positive” for GLW. Earlier on January 27, 2022, Goldman upgraded its rating. Their new recommendation was “a Buy” for GLW stock which previously was a “a Neutral”.

Analyzing RCG’s Price Performance

During the last five days, there has been a drop of approximately -3.64%. Over the course of the year, RENN Fund Inc. shares have dropped approximately -15.35%. Shares of the company reached a 52-week high of $2.64 on 01/03/22 and a 52-week low of $2.04 on 05/18/22. A 50-day SMA is recorded $2.23, while a 200-day SMA reached $2.48.

Support And Resistance Levels for RENN Fund Inc. (RCG)

According to the 24-hour chart, there is a support level at 2.24, which, if violated, would cause prices to drop to 2.24. In the upper region, resistance lies at 2.24. The next price resistance is at 2.24. RSI (Relative Strength Index) is 48.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 87.50%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is RENN Fund Inc. subject to short interest?

Stocks of RENN Fund Inc. saw a sharp steep in short interest on Apr 28, 2022 dropping by 1690.0 shares to 76450.0. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 78140.0 shares. A decline of -2.21% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 16.15 of the overall float, the days-to-cover ratio (short ratio) decline to 16.15.

Which companies own the most shares of RENN Fund Inc. (RCG)?

According to Horizon Kinetics Asset Management filings, the company currently owns 367,149 shares, which is about 6.17% of the total RCG shares outstanding. The investor’s shares have appreciated by 120,482 from its previous 13-F filing of 246667.0 shares. With the completion of the buy, Moors & Cabot, Inc.’s stake is now worth $447,086. Meixler Investment Management Ltd acquire a 59.02% interest valued at $0.25 million while Pecaut & Co. purchased a 23,792 stake. A total of -1,200 shares of RENN Fund Inc. were bought by Royal Alliance Associates, Inc. during the quarter, and 44,570 by Shufro, Rose & Co. LLC. In its current portfolio, Morgan Stanley Smith Barney LLC holds 39,266 shares valued at $88349.0.

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