Match Group stock rises following report of activist investor's stake
By Sabela Ojea
Shares of Match Group (MTCH) climbed in post-market trading after the Wall Street Journal reported that activist investor Starboard Value has built a stake in the online-dating company and is pushing for a possible sale if a turnaround isn't successful.
The stock rose 8.6% to $34.76 after hours Monday. Shares have dropped 12% since the beginning of the year, and 34% over the past 12 months.
Hedge fund Starboard Value has a position in Match of more than 6.5%, and has discussed with Match opportunities to improve Tinder and overall growth, profitability and spending, the Journal reports, citing people familiar with the matter.
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07-15-24 2004ET
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