Activist Hedge Fund Starboard Acquires 6.6% Stake in Match Group

Starboard urges Match Group to improve margins or consider a sale, driving stock up nearly 9% in after-hours trading.

Match Group, parent company of Tinder and Hinge, has seen a 12% decline in shares this year.
Starboard Value is advocating for cost cuts, product innovation, and more aggressive share buybacks.
If improvements are not achieved, Starboard suggests Match Group should go private.
Other activist investors, including Elliott Management, have also pressured Match Group for changes.
Match Group's market value has dropped significantly from over $40 billion in 2021 to $8.5 billion.