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By Jonathan Heller

 About this article:
 As Tim Melvin wisely noted last week, Move Inc., the leading network for online residential real estate advertising and parent company of Realtor.com, is not currently what you would call a great business -- on the surface, anyway. Yet if you drill down, you discover not only opportunity but a great, cash-rich balance sheet. I first profiled Move back in January after seeing David Nierenberg of D3 Funds, currently the top shareholder at 18.4%, present the idea at the Value Investing Congress in New York. At the time, Move was trading for around $1.60, and that was before the markets really took off. Since then, shares are up about 31%, and the idea seems no less compelling today. Last week, the company reported first-quarter revenue of $54.9 million, down 10.9% from the same period last year, and a net loss of $10.6 million, vs. a loss of...

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