Shake-Up Alert: 40 Companies Facing Activist Pressure

9. Elliott Management at Match Group, Inc. (NASDAQ:MTCH)

Stock Return: -2.89%

S&P 500 Return: 16.78%

Investment date: 08/01/2024

Number of hedge funds holding stakes: 45

Match Group, Inc. (NASDAQ:MTCH) is a social networking company that provides dating products, including Tinder and Match. Elliott Management has taken a $1 billion stake in the company as it looks to turn around its fortunes that have dwindled significantly. At the height of the pandemic, Match Group, Inc. (NASDAQ:MTCH) was hit with its market cap rising to $45 billion, which has since dropped to about $10 billion.

Having been pushing for management changes, the activist investor has already secured two board seats and is believed to be eyeing strategic initiatives to unlock value. As the hedge fund continues pushing for management changes, Match Group, Inc. (NASDAQ:MTCH) is already up by 5.55% for the year. According to the Insider Monkey database, the number of hedge funds holding stakes in the company dropped to 45 in Q1 2024 from 47 in Q4 2023.