Shares of Match Group
MTCH,
climbed in post-market trading after the Wall Street Journal reported that activist investor Starboard Value has built a stake in the online-dating company and is pushing for a possible sale if a turnaround isn’t successful.
The stock rose 8.6% to $34.76 after hours Monday. Shares have dropped 12% since the beginning of the year, and 34% over the past 12 months.
Hedge fund Starboard Value has a position in Match of more than 6.5%, and has discussed with Match opportunities to improve Tinder and overall growth, profitability and spending, the Journal reports, citing people familiar with the matter.
This article was originally published by Marketwatch.com. Read the original article here.