Stock market information and data provider IRE has plunged over 30% from its 2021 highs when it was “in play” and management rejected 2 bids from private equity firm EQT with the later coming in well above $15 – we cannot imagine many shareholders who held on are particularly grateful to the board. The stock isn’t overly cheap trading on an Est. PE for 2022 of over 24x but stable earnings and dividend of 4.3% does look attractive in today’s uncertain environment plus EQT might fancy its chances again, albeit probably at a lower price.
MM likes IRE around $10.50
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