15 Stocks Targeted By Activist Hedge Funds

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12. Match Group Inc. (NASDAQ:MTCH)

Company Market Cap as of December 31: $8.21 Billion

Number of Hedge Fund Holders: 58

Match Group Inc. (NASDAQ:MTCH) is a communication services company that provides dating products. Its portfolio of brands includes Tinder, Hinge, and Match, each built to increase users’ likelihood of connecting with others. After underperforming in the first half of 2024, it was one of the stocks targeted by activist hedge funds as the year came to a close.

Starboard Value amassed a 6.5% stake in the online dating company and started pushing for changes that would result in margin improvements. The activist hedge fund also pushed for the company to consider going private. In a letter to the company’s board, the hedge fund urged management to consider cutting costs and focus on product innovation to bolster margins and fuel revenue growth.

The activist campaign came as Match Group Inc. (NASDAQ:MTCH) was struggling with leadership turnover and a significant decline in active users of its dating apps. Tinder, one of the company’s flagship apps that had enjoyed enviable growth in the previous years, has been stymied amid sluggish innovation. Elliott Investment Management is the other activist investor that has stakes in the MTCH, having succeeded in securing two seats on the board.

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