The Tripadvisor emblem is displayed on a pill.
Mateusz Slodkowski | Sopa Photos | Lightrocket | Getty Photos
Tripadvisor inventory jumped 17% Thursday after Starboard Worth revealed a greater than 9% stake within the on-line journey firm, in response to a securities submitting.
The place was valued at about $160 million as of Wednesday’s shut.
Tripadvisor shares have been flat because the begin of the yr after plummeting greater than 30% in 2024. Final yr, the journey evaluation and reserving firm stated it created a particular committee to discover potential choices.
Starboard Worth has gained a status for pushing for modifications reminiscent of new CEOs and value cuts by buying important shares in firms.
Most lately, the agency settled a proxy battle with Autodesk, the place it gained two board seats. It has beforehand pushed for modifications at Tinder father or mother Match Group, pharmaceutical large Pfizer and Salesforce.
The Wall Road Journal was the first to report the information late Wednesday.
Tripadvisor didn’t instantly reply to CNBC’s request for remark. Starboard declined to touch upon the information.