According to the latest SEC Form 13D schedule, the founder and president of Nierenberg Investment management Company Inc., David Nierenberg, has sold 1.75 million shares of Move Inc. on the 28th of November, at an average price of $7.60, and 1,512.500 at $7.20 per share on the previous day.
Mr Nierenberg’s Investment management company handles D3 Family of Funds, with an estimated total portfolio value of $221 million. The overall value of assets under management is estimated at $350 million spread across four investment partnerships. David Nierenberg also is a board member of the Washington State Investment, a public employee, retirement fund management body, which manages over $80 billion. David Nierenberg founded Nierenberg Investment Company Inc. in 1996.
Nierenberg had sold 109,642 shares of Move Inc. on November 2nd and 6th. Move Incorporated, operates an online network of Websites for real estate search, finance, and moving and home enthusiasts. The small cap company has 39.32 million shares of common stock outstanding, with 29.89 million floated.
Move Inc. has a market capitalization of $291 million and an enterprise value of $260.13 million. Its most recent quarter posted $30.88 million worth of cash reserves. Revenues grew by 6.4% year-over-year for the most recent quarter while earnings grew magnificently by 122 percent. The company’s profit margin for the trailing twelve months stands at 4.14 percent, while the operating margin is pegged at 4.36 percent.
Move Inc. faces competition from Zillow Inc., and from two privately held companies; Classified Ventures, LLC, and PRIMEDIA Inc.
This article originally published on ValueWalk.com here.