Initiating a Position in Ancestry.com

I’ve been trading in and out of Ancestry.com (Ticker: ACOM) for the past few days. Today, I started building a position @ $32.73 based on the potential buyout by private equity firms. The company’s valuation is still very reasonable with an earnings growth rate in the mid-teens, which should command a decent premium in a buyout. The NY Times have floated a take out price of ~ $35 to $39 a share with second round bids due in early August (click: here).