TheStreet's Cramer: Dolan Media a 'play on mortgage defaults'
Shares of Dolan Media Company (NYSE: DM) are jumping in pre-market trading after theStreet.com's Jim Cramer said late Monday that the provider of business information and professional services to the legal, financial and real estate sectors is “one of the most interesting plays around as it is a play directly on mortgage defaults.”
“What's good about Dolan Media is that it has not attracted much attention,” Cramer said.
Cramer said the Minneapolis, Minn.-based firm works in two segments, publishing business journals and acting as a mortgage default processor. Acting as a mortgage default processor is a part of Dolan Media’s professional services division, which helps law firms process residential mortgage defaults, according to Cramer.
The company said on Sept. 6 that it will ratchet up its professional services division. Cramer said he believes that division will comprise a larger portion of Dolan Media’s business.
Shares of Dolan Media (DM) gained $1.75, or 7.23%, to $25.95 in pre-market trading.
