HSBC Holdings PLC and
Pacer Advisors Inc. have trimmed their stocks in Match Group, Inc. (
MTCH) while
Renaissance Technologies LLC and
Pinnacle Associates Ltd. have raised their stakes. This comes as
Starboard Value, an activist investor, has taken a stake in MTCH urging it to increase shareholder value. Amid this activist push, MTCH saw a decline in
Tinder payers. The company has made several key appointments, including naming
Sean Edgett as Chief Legal Officer & Secretary and the addition of
Laura Jones and
Spencer Rascoff to the Board of Directors.
Uber has also teamed up with MTCH to promote safe dating among college students. Despite
Q2 2024 earnings meeting estimates with revenues up year on year, MTCH stock went down 3.7% since the last earnings call, with investor speculations about the company going private increasing. Activist pressure also continues from
Elliott Management. Firmer insistence for the company to show evidence of upside potential is evident in the wake of rumored job cuts. There is speculation about MTCH's possible turnaround, which is yet to be backed by concrete evidence.
Match Group MTCH News Analytics from Tue, 14 Nov 2023 08:00:00 GMT to Sun, 22 Sep 2024 08:50:43 GMT -
Rating 2
- Innovation 5
- Information 8
- Rumor -3
