David Nierenberg Says Move.com (MOVE) Could Jump Over 500%
More News related to BRKS
- Brooks Automation to Present At the UBS Global Technology and Services Conference
- Photo Release -- RFID System for the Solar Industry From Brooks Automation
- Barclays Upgrades Brooks Automation (BRKS) to Equalweight
- Brooks Automation (BRKS) Reports Large Q1 Loss
- Brooks Automation Reports Second Quarter Financial Results
More News related to ESIO
- ESI's New 9850 Tailored Pulse Dual-Beam Laser System For 68nm DRAM Repair Was Qualified by Tera Probe
- ESI to Present at the 2009 UBS Global Technology & Services Conference in New York
- ESI Renews Its Shareholder Rights Plan
- Electro Scientific (ESIO) Reports Q4 Adj-Loss of $0.26; Guides Q1; Buys Intellectual Property Rights from XSiL
- ESI Purchases the Intellectual Property Rights From XSiL Ltd.
More News related to MOVE
- South Florida Media Group Acquires Welcome Wagon Assets From Move, Inc.
- SeniorHousingNet.com(TM) Debuts Redesigned Website
- Move, Inc. to Present at Fourth Annual Needham Internet and Digital Media Conference
- Move, Inc. to Present at Eighth Annual JMP Securities Research Conference
- Move (MOVE) Reports Mixed Q1 Results
Currently, speaking at the Value Investing Congress is David Nierenberg of the D3 Family Funds. He is presenting three ideas: Move.com (Nasdaq: MOVE), Electro-Scientific (Nasdaq: ESIO) and Brooks Automation (Nasdaq: BRKS).
Nierenberg thinks that Move.com could rise as home values recover. Move.com looks ugly because past problems with overpaid management, litigation clean-up, large overhead, former executives jailed and three quarters of their cash was invested in auction rate securities.
In response, D3 Family Funds filed a 13D on Move.com.
Nierenberg expects real estate advertising to migrate to the internet, trend accelerating in real estate downtown. Additionally, he expects Move.com's margins to increase and auction-rate securities settlement by '09.
Ultimately, Nierenberg thinks home prices will recover. He expects G&A to be reduced $60 million annually.
Nierenberg's price target on Move.com is $10, or 6x where it is today.
Move Inc. is an online network of Websites for real estate search, finance, moving and home enthusiasts.
Never miss market moving news again and sign-up now at EasyStockAlerts.com for FREE.
Related Categories
Insiders' BlogTrader Talk
Stocks Mentioned
-0.14Related Entities
Comments
endtable20@yahoo.com
"...past problems with overpaid management..." For comparison, how does Move's current management pay compare?
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
he doesn't know
an insider on Dec 2, 2008 12:08 AMDavid's doesn't know enough about Move's current management or business model. If he did, he would not be so bullish.