All articles tagged with #starboard value
Tripadvisor's stock rose 17% after Starboard Value disclosed a over 9% stake in the company, signaling potential strategic changes, with the investment valued at around $160 million, amidst a period of flat stock performance and previous strategic reviews.
Activist investor Starboard Value has acquired a 6.5% stake in Match Group and is urging the company to improve margins through cost cuts and product innovation or consider going private. Match Group's stock surged 8% following the news, despite a 12% decline this year and an 80% drop from its 2021 peak. Starboard's Jeff Smith believes CEO Bernard Kim can lead the necessary changes but emphasizes the need for margin improvements and potential share buybacks. Other activists, including Elliott Management, have also pressured Match Group recently.
Activist investor Starboard Value has urged web services company GoDaddy to set specific and realistic growth targets, provide more detail on cost savings, and improve margins. Starboard, which holds a more than 6% stake in the company, believes GoDaddy should aim for at least 40% growth and profitability for fiscal 2025, and achieve free cash flow of $9 per share by this fiscal year and $14 per share by fiscal 2026. The investor also emphasized the need for "prudent" growth guidance and highlighted potential cost savings in technology and development.
Activist investor Starboard Value has purchased a 9.9% stake in Bloomin' Brands, the owner of Outback Steakhouse, causing the company's stock to rise by 7%. Bloomin' Brands has experienced slowed sales growth in recent quarters, prompting previous activist investors to push for cost-cutting measures and brand spin-offs. Starboard Value has a successful track record of turnarounds in the restaurant industry, including its involvement with Darden Restaurants and Papa John's. The specific changes Starboard plans to advocate for at Bloomin' Brands are currently unknown.