Tinder Parent Match Group Soars Nearly 9% In After-Hours Trading As Activist Hedge Fund Starboard Value, Led By Jeffrey Smith, Reportedly Acquires Over 6.5% Stake Amid Calls For Policy Changes
Portfolio Pulse from Benzinga Neuro
Starboard Value, an activist hedge fund, has acquired over a 6.5% stake in Match Group Inc (NASDAQ:MTCH), the parent company of Tinder. The fund is pushing for policy changes to enhance margins or consider a sale if improvements are not seen. Match Group's stock surged nearly 9% in after-hours trading following the news.
July 16, 2024 | 4:24 am
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Starboard Value has acquired over a 6.5% stake in Match Group and is advocating for policy changes to enhance margins or consider a sale. Match Group's stock surged nearly 9% in after-hours trading.
The acquisition of a significant stake by Starboard Value and their push for strategic changes is likely to positively impact Match Group's stock in the short term. The after-hours trading surge of nearly 9% reflects investor optimism.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100