Skip to main content

Activist investor Elliott takes big stake in Match Group, seeks changes: report - MarketWatchMarketWatch Site Logo

Image
By
Activist investor Elliott takes big stake in Match Group, seeks changes: report - MarketWatchMarketWatch Site Logo

Activist investor Elliott takes big stake in Match Group, seeks changes: report - MarketWatchMarketWatch Site Logo

Elliott Investment Management has taken a significant stake in online dating company Match Group Inc., and plans to push for changes to boost its stock, the Wall Street Journal reported Monday night.

According to the report, which cited sources familiar with the matter, the activist investor has built a roughly $1 billion stake in Match. The Journal said Elliott wants Match to take steps to improve performance, though no specific details were reported.

According to FactSet data, Elliott had no significant stake in Match as of Sept. 30, and a billion-dollar stake would likely make it one of Match’s top two shareholders.

“Our team regularly engages with investors, and will continue to work to create great experiences for our users and value for our shareholders,” a Match Group spokesperson said Monday night. Elliott did not immediately respond for comment.

After booming during the height of the pandemic, Match Group has seen its growth slow sharply, and its paying customers have declined. Match stock MTCH, +1.63% is down about 13% over the past 12 months, compared to the S&P 500’s SPX 22% gain.

Match Group owns online dating sites such as Match.com, Tinder, Hinge and OKCupid.

In October, Match Group reported flat quarterly revenue and issued a disappointing revenue forecast.

Read Next

The chip maker's rally is leveling out slightly as other stocks related to artificial intelligence take the spotlight.

More On MarketWatch

Visit a quote page and your recently viewed tickers will be displayed here.

Labels:

Comments

Post a Comment

Popular posts from this blog

Unlock the Secrets to Hiring the Right Roofer Near You!

By
Do you want to take care of your home but don't know which roofer to choose? Looking for a roofer near you is a smart place to start! Local roofers know the area and what materials are best for your home. In this article, we'll explore why hiring a local roofer is beneficial. We'll also provide advice on how to find a trustworthy service that can meet your roofing needs! Roofer Near Me Finding a roofer near you is important for many reasons. Firstly, local roofers are familiar with the weather conditions in your area. If it rains a lot or snows heavily, they know what materials work best for your home. They can also give advice based on local building codes and regulations. Plus, hiring someone nearby means they can respond quickly if you need repairs. Next, it's essential to check reviews before choosing a roofer. Look for feedback online from previous customers. A roofer with many positive reviews is usually a safe bet. Don't hesitate to ask friends or family...
Post a Comment
Read more

Why Searching for a Roofer Near Me Could Change Everything!

By
Have you ever wondered why it's so important to find a roofer nearby? It all comes down to convenience and trust. A local roofer knows the area and can provide personalized service that larger companies might not offer! In this article, we will explore why choosing a local roofer near you can be beneficial. By the end, you'll have a better handle on how to select the best roofer for your needs! Roofer Near Me When you need a roof repair or replacement, the first step is to find a roofer near you. It's important to choose someone who knows the area and can provide personalized service. Plus, having a local roofer makes it easier to communicate and discuss your specific needs. To start your search, ask friends or family for recommendations. Personal referrals are often the best way to find a reliable roofer. You can also check online reviews and ratings to see what others are saying about local roofers. Once you have a few names, it's time to do some more research. L...
Post a Comment
Read more

Budget-Friendly Flooring Solutions: Discover Cheap Laminate in Perth!

By
Are you on a budget but still want to improve your home's look? Stay tuned because we're talking about the cheapest laminate flooring options in Perth! Your dream home can be more affordable than you think. See how laminate can transform your space into a welcoming and stylish environment. From living rooms to bedrooms, laminate flooring is a great choice for any area! Cheapest Laminate Flooring Perth When it comes to flooring, laminate is one of the best choices for families and individuals alike. It looks gorgeous, is very resilient to scratches and stains, and can be found at prices that fit any budget. Many people in Perth are turning to laminate to give their homes a fresh perspective! One of the reasons laminate flooring is so popular is that it's available in various styles and finishes. Whether you want a classic oak look or a trendy grey wood design, there's laminate that can match your taste. This variety means you can personalize your space without havin...
Post a Comment
Read more